IWM to bounce $240 target
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
So...
Here's why I'm picking this symbol to do the thing.
Price at bottom channels (period 52 39 & 26)
Stochastic Momentum Index (SMI) at oversold level
VBSM is negative
Price at or near 0.618 retrace Fibonacci level
In at 232ish
Target is $240 or channel top
Stop loss is $228, but will reenter at 225ish.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
So...
Here's why I'm picking this symbol to do the thing.
Price at bottom channels (period 52 39 & 26)
Stochastic Momentum Index (SMI) at oversold level
VBSM is negative
Price at or near 0.618 retrace Fibonacci level
In at 232ish
Target is $240 or channel top
Stop loss is $228, but will reenter at 225ish.
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