LLY bounce to $822 (+dividend)
Updated
MODs have suggested that I provide more detail about the picks I make.
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
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 100 52 39 & 26)
Stochastic Momentum Index (SMI) at oversold level
VBSM is spiked negative
Price at or near 1.618 Fibonacci level
In at $752.25
Target is $822 or channel top
Stop loss is $746
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
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 100 52 39 & 26)
Stochastic Momentum Index (SMI) at oversold level
VBSM is spiked negative
Price at or near 1.618 Fibonacci level
In at $752.25
Target is $822 or channel top
Stop loss is $746
Trade active
I'M STILL HOLDING!Trade closed manually
Price dropped below channels, headed for 3.618 fib extension at $637.
I'm out with a big loss.
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