AIRBUS (AIR) Two Scenarios Explained

23 Nis 2020

hey guys,

airbus is consolidating on a key structure support level.
the price is stuck on 50 level for more that one month!

on 4H we see a classic contraction with a formation of a descending triangle.

the side of the breakout of the triangle will show us the future direction of the stock.

because the trend is bearish, we are bearish biased here and we expect further bearish continuation.
however, in case of a bearish breakout out profits will be relatively limited.
we will aim at 40 and this will be the next key structure.

in case of a bullish breakout of a falling trendline, we can expect a bullish continuation,
and aim at 76 level.

be prepared for both scenarios and adjust your trading plan accordingly!
good luck!