Bed, bath and beyond (BBBY) had an amazing earnings week with a staggering 13% rally.
What drove such an impressive rally? What were the reasons that led me to send the Elite Zone members a bullish trading plan before earnings?
Find out more in this new Trade Analysis video:
The setup – Harmonics and Fibonacci
The main four reasons that stood behind the Elite Zone’s trading scenarios are:
- Bullish Butterfly pattern (harmonic trading pattern completion)
- Potential Bullish AB=CD pattern
- Fibonacci confluence support zone
- Oversold RSI
The potential Buy Zone was between 37-38$.
The potential target zones were 42$ and the 200 days MA line.
The R/R ratio we got for the secondary target zone was almost 2.
Learn more about this setup, about the use of harmonics and Fibs confluence zone in the video
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