LY0 trade ideas
LYFT Long, Demand ZoneCondition:
Structure level had been used as both support and resistance more than 5 times.
At demand zone
Entry: 32
Stop: 30;
Target: 44; risk/reward=1:6
I am not a Pro trader. I need few months to work on rule based trading strategies.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Waiting for Pullback to Short.Lyft is still on major downtrend. IF you are keen, you may wait for a pullback to short this counter. I have draw 2 channel (blue major downtrend & Red temporary uptrend).
If the price breakthrough blue channel, downtrend will be invalid. therefore SL can set anything above the blue channel.
Short @ $38
SL @ $44
TP @ Ride with the trend
LYFT BreakoutAfter our March low, we've rallied +140% off the lows and formed a huge ascending triangle. Given our bullish momentum, it's likely we continue upwards into the green zones highlighted around the $40 and $47 marks.
RSI is not oversold and has been coiling, which shows signs of momentum heating up with plenty of room of run. If we break out from here, there is a high probability we fill the liquidity void above us in the $40-$50 range. Watching this one closely.
First target: ~$40 for a 20% gain
Second target: $48 for a 50% gain.