Channel + support + doji + double bottom + 11:1 RR
Updated
BIIB is in a channel and is in a buy low, sell high situation
The RR on this trade is 11:1:
Trigger: 272.98
Stop: 267.86
Target: 329.36
Plan:
Not sure if this trade will trigger because it is at a strong support and has formed a possible double bottom drawn in blue. I will leave this trade open for the rest of the week. If triggered I will set and forget stop and target triggers
The lowest low of the channel is 268 and my stop is below that for a conservative play.
The RR on this trade is 11:1:
Trigger: 272.98
Stop: 267.86
Target: 329.36
Plan:
Not sure if this trade will trigger because it is at a strong support and has formed a possible double bottom drawn in blue. I will leave this trade open for the rest of the week. If triggered I will set and forget stop and target triggers
The lowest low of the channel is 268 and my stop is below that for a conservative play.
Note
BIIB had a split so the trade needs to be adjusted accordingly
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.