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Trade Analysis – Earnings setup on BBBY

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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:

  1. Bullish Butterfly pattern (harmonic trading pattern completion)
  2. Potential Bullish AB=CD pattern
  3. Fibonacci confluence support zone
  4. Oversold RSI

bbby3

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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