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AF - AIR FRANCE -

🕑 Added 2025-03-06 12:52:44 +0000 UTC

Comments

Ondrashin

In case of retracement you want to retrace from a maximum to a previous low in order to see where the upcoming pullback may find support. Here it will not work. What can work is that a breakout can signal a start of a new impulse wave (w1 and w2). Using the Fib extension will show where the impulse wave ends and these levels can coincide with the first and second targets, strenghtening the thesis. Basically a confluence level for the upside, often moving averages appear around these levels as well. Look for similar charts with these targets to get a hang off it :)

Olivia

Thanks, I did not know that! I also tried fib retracement with the beginning at the max point of the wedge, and the end at the very minimum of the wedge (the min point of 2025), and it sort of coincides with those targets, but I am not sure if this makes sense or if it is pure coincidence :)

Ondrashin

If you take the vertical distance from min-to-max of the widest part of the wedge, you then take that distance a put its beginning to where the breakout takes place, the end will then designate the target. However I always thought that gives you the first target, here it's the second one. So I am not sure, but that's how Cap usually sets those targets without EWT.