I just learned about Elliot Wave so I decided to try and apply it to Ford. See my immediate preceding two publications for a more in depth analysis of Ford. The very top resistance line I drew (the number 5 spot at the top of the wave) is based off a resistance from about a year ago--December 09, 2016 and January 04-05, 2017. I plan to wait for a bounce off the Number 4 spot ($12.40) before entering a new bullish position. Breaking through the Number 3 spot ($12.75/12.80ish) will be confirmation to me of a continuing Bullish trend.
I am not a professional. I am not certified or licensed by any individual or institution to give financial advice. I currently have shares of Ford for a long term hold investment.
"Ford" -- Big Picture Long Term -- One of Several -- "Elliottt Wave Counts" -- to think about.
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------------ Wave 1 -- or -- Wave A Top = 5 Waves Up
November, 2008 -- Low $1.01 -- to -- January, 2011 -- High $18.97
-------------- Wave 2 -- or -- Wave B -- Down = A-B-C
Wave A down = $18.97 High to August, 20012 low -- $8.82
Wave B up = $8.82 Low to July, 2014 high -- $18.12
Wave C down started July, 2014 high -- $18.12 -- Low = " ? "
--------- Wave A -- and -- Wave C -- are equal at $7.97
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-----------------------Two similar examples to look at for reference.
----------------- #1 ---------------- ALCOA CORP = AA
Starting point January, 2016 low $13.81 to October, 2016 low $19.21 = (Weekly -- Daily Chart)
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----------------- #2 ------- FREEPORT-MCMORAN INC = FCX
Starting point January, 2016 low $3.52 to October, 2016 low $9.24 = (Weekly -- Daily Chart)
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This is for information only. -- "Education Only"
"One Eye Jim"
jeffreyjim
⋅
----------------------------------- "Ford" -- and --"Hindsight"
-------------- This is -- "MY" -- Opinion Only -- "One" -- of -- "Many Wave Counts"
------------ Starting point -- "Wave B" -- or -- "X" -- Top = $18.12 High -- July, 2014
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-------- "If" -- $10.47 August, 2017 Low -- Is Taken Out -- "?" -- "Major Support Level"
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----------------------- Wave -- "C" -- Down -- Starting Point $18.12 High
"A" = $18.12 High -- $10.44 Low -- August, 2015 = "A" - "B" - "C" -- Down = Wave "A" -- or -- "?"
"B"= $10.44 Low -- $15.84 High -- October, 2015 = "A" - "B" - "C" -- Up = Wave "B" -- or -- "?"
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"C" = $15.84 High Down = Wave ("C" Down) -- or -- "?"
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a = Wave "One" or "A" -- of -- ("C" Down)
---- $15.84 High -- $11.02 February, 2016 Low = Wave "One" or "A" Low.
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b = Wave "Two" or "B" -- of -- ("C" Down)
---- $11.02 Low -- $13.48 January, 2018 High = Wave "Two or "B" High.
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c = Wave "Three" or "C" of -- ("C" Down) -- Started at $13.48 -- January, 2018 High.
---- "Ending Point" = " ? "
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Just Sharing "One" of "My" Thoughts At This Time --- 1-27-2018
This "Is Not" a recommendation to buy or sell anything. -- This is for Information only.
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Let's See What Happens,
"One Eye Jim"
Reallifetrading
⋅
NICE!!! Just note, that wave 3 can never be the shortest. In this case, even if it's Just a TAD longer than wave 5, this could be the proper set up. Put your eyes on that weekly chart and see if you can find anything there.. ;-)
===================================================================================
------------ Wave 1 -- or -- Wave A Top = 5 Waves Up
November, 2008 -- Low $1.01 -- to -- January, 2011 -- High $18.97
-------------- Wave 2 -- or -- Wave B -- Down = A-B-C
Wave A down = $18.97 High to August, 20012 low -- $8.82
Wave B up = $8.82 Low to July, 2014 high -- $18.12
Wave C down started July, 2014 high -- $18.12 -- Low = " ? "
--------- Wave A -- and -- Wave C -- are equal at $7.97
====================================================================================
-----------------------Two similar examples to look at for reference.
----------------- #1 ---------------- ALCOA CORP = AA
Starting point January, 2016 low $13.81 to October, 2016 low $19.21 = (Weekly -- Daily Chart)
-----------------------------------------------------------------------------------------------------------------------
----------------- #2 ------- FREEPORT-MCMORAN INC = FCX
Starting point January, 2016 low $3.52 to October, 2016 low $9.24 = (Weekly -- Daily Chart)
=====================================================================================
This is for information only. -- "Education Only"
"One Eye Jim"