We continue our journey through the automotive industry and today we come back to the Automotive wonderland: Germany. Porsche, a symbol of luxury, speed and elegance. We don’t have a signal yet but we are getting close.

Since March, Porsche is moving sideways. Yes, we managed to set new highs but still, the price is moving between 100 and 80 Euros. 80 Euros seems like a solid support (yellow) and is currently playing the role of the neckline of a big head and shoulders pattern. As for resistance, we do have a down trendline (red) connecting recent lower highs. And that brings us to the following summary: a breakout of the upper red line will bring us a buy signal and a breakout of the lower yellow line will bring us a sell signal.

As for now, we wait. If you follow us, you’ve probably already noticed that we wait a lot. Yes, that’s the truth but usually, movements that happen afterwards are very reliable and durable. Again, patience is a the virtue of a great trader.


About Author

During his career, Tomasz has held over 400 webinars, live seminars, and lectures across the globe. He was also an academic lecturer at Poland's Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for the accounts; none of which were ever negative. Tomasz gives preference to a technical approach to trading: mainly price action with very strict money management rules. He believes that the most important thing in trading is your mind, so it is much better to focus on trading psychology than to look for the Holy Grail of trading systems.

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