11.19.17 | AAL | 1 hour

Journal Entry: I started tracking this before the pivot at the supply zone. It has been a couple days since I drew in this analysis but following along with what I have drawn I think that if price breaks the signal lines (in orange) it will continue bearish all the way to the demand zone. I expect AAL to consolidate into a short period of accumulation before recovering from the sell-off that just occurred on the daily. I will track the breakout if a range is confirmed. God Bless


Useful Links below:
http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=aal
https://finance.yahoo.com/news/buffett-sticks-big-airline-bet-234336206.html
https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Nosedive-On-Bearish-IEA-Report.html
https://www.bizjournals.com/chicago/news/2017/11/17/american-airlines-names-finalist-uniform-vendors.html?ana=yahoo&yptr=yahoo

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The ADX and ATR are both on the down tick and at low values, which signals that the price is going to pivot bearish at the range of the channel. I also noted that this wave formed on declining volume (a sign of weakness). The bearish reversal might be messy but I hope it is fast and clean. God Bless

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I am still trying to understand how to accurately analyze intraday charts. It seems I have difficulty understanding the nature of the price action on hourly and minute time frames.

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Watch for more Intraday charts to get published, if anyone has any advice, concepts, tips, or tricks with intraday time frames I appreciate any help. Thank You. God Bless.