AON daily Sept 23rd
AON (Aon PLC) was added directly as an Active Short Trade back on July 25th immediately following the breakdown below this multi-year uptrend line. Following the initial thrust lower, AON bounced, largely in sympathy with the broad markets & financial sector, to make a perfect backtest of the trendline from below. Following that backtest, AON went on to break below this minor, sub-uptrend line which formed a bearish rising wedge-type pattern just below the primary uptrend line. At this point, AON still offers an objective entry or add-on to an existing position with a stop-loss calculated using a 3:1 or better R/R (risk-to-reward ratio) based on one’s average cost to the sole profit target of 77.08, about a 12% drop from current levels.