Axpshort
American Express ($APX): Elliott Waves Analysis and Sell SetupThe American Express ($AXP) Main Trend is absolutely bullish, therefore we currently consider all descents as simple corrective structures of the trend in play. But why am I saying that? Because when you decide to take a position not following the trend, the risk is high, so logic tells us to use a smaller size, at least initially (...there's always time to increase it!). Having said that, the strategy I want to share with you is very simple: "Try to take a short position on breakout" , with stop loss above the previous swing (don't look at the levels on the chart, they are only indicative at the moment). Of course, a second option (yellow arrow) is also possible, but to do this you would need to be a little more expert. The potential target areas are the first around 119.50 and the second around 106.50 (my favorite).
Looking at the chart above (daily time frame) we can see how the potential short trade also has a good Risk/Reward ratio, and this makes this trade interesting.
I also take the opportunity to thank every Trader who supported me in the last setups on Stocks Market:
$AMAZON BULLISH SETUP
(Click and Play on Chart below)
$TESLA BEARISH SETUP
(Click and Play on Chart below)
Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖
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AXP| Strong Bearish Scenario; Go Short!If you find this technical analysis useful, please like & share our ideas with the community. Coming to the technical analysis of AXP American Express , I think we are going to strong bearish movement. If you are going to go short, make sure to place the stop above the previous rejection area .
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
American Express (AXP) bearish scenarioThe technical figure Triangle can be found in US company American Express Company (AXP) at daily chart. The American Express Company is a multinational financial services corporation best known for their credit business. The Triangle has broken through the support line on 14/08/2021, if the price holds below this level you can have a possible bearish price movement with a forecast for the next 6 days towards 159.47 USD. Your stop loss order according to experts should be placed at 171.70 USD if you decide to enter this position.
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AXP has that look AXP arrived at target, given the general situation of the indices this one has potential for a big move.
AXP SELL (AMERICAN EXPRESS COMPANY)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
AXP ShortShort based of channels and fibs
My Entry: 108.61 (any entry over 108.00 is okay)
Stop Loss: 113.00
PT: 70.00 area
Risk/Reward: ~1:8
Not a high probability trade, which is why the r/r is so good. Trade should take about a full year, looking for about 50%. If I am wrong I should know relatively quickly.
American ExpressThe market is overbought on weekly and it's close to overbought level on montly RSI as on daily chart we have a lot of closed long positions.
AMERICAN EXPRESS with conservative SetUp68.10 Yearly High 2016 @ 1st Trading Day this Year
64.04 100 SMA
62.69 200 SMA
62.33 low after break out of trading box
61.25 gap - while the sell off @ start of the year
58.85 gap - while the sell off @ start of the year
buying trading capability above the trading range (58.85 & 61.25)
- the lows in may and june/july supported the upside (even above 62.33) too.
Take care
& analyzed it again
- it`s always your choice ...
Best regards
4XSetUps
AMERICAN EXPRESS @ 15 min. @ this week, next week into ChristmasBreakOut yeasterday - earlier as excepted ...
I personally thought the market will breath out before ECM Mario today & FOMC Yellen next week and rise after both meetings into christmas - even into year end 2016. How ever, Independently of the central bank decissions it seems that the technical outbreak has been successful ...
74.18 - 73.05 AXP grey box (price zone incl. next week - above last OuBreak)
73.05 - 72.65 AXP green box (superordinate price zone - after last OutBreak)
72.67 - 71.18 AXP yellow box (actuallity price zone this week - under last OutBreak)
Don`t jumpt behind the prices, like a missed bus.
We`ll see prices between 73 & 74 AXP surely next week.
And from this point of view, even based on this conclusions, i am still prefering the long side.
But even conservative - contrarian buying opportubnities - cause the fundamentals are strong also.
And this means, at least my opinion, buying the dips into christmas and year end. `Cause the high of 2016 was by 68.11 AXP and this was the 1st price 2016 - even opening price`16. All in all around 10% in 2016 should not make the market euphoric - like the whole financial and banking sector. `Cause we, all market particpants (traders, watchers, analysts, etc. etc.) have the so called crises since 2008 still not surpassed. At least price technically - even far away from new highs like JPM Morgan for example ...
Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
Best regards
Aaron
