Brown.Michael.6
Short

BEST BUY DAILY CLUSTER SHORT

NYSE:BBY   BEST BUY CO INC
39 views
1
on the daily we are now a bit over extended , i see a good spot to join the trend on a pull-back to around the $36 mark. the reason for this that there is a pivot point (marked by the red line) it is lining up with a 50%level from the previous swing, and it also lines up with 38.2% fib level from the one before that. if price retaces to this $36 area the moving adverges will be close to the area. i will be placing a stop above 100% level at roughly $37.51 there is a few pivots to potect the stop, and a break of this level would make the reasons for the trade void. i see potential to fill the gap so a target around $30.61 marked by the pink line offers good R:R.
Oct 27
Order cancelled: this trade is cancelled as the pivot point and there for the reason for entry no long hold up, i am still looking for an opportunity to enter as i see more downside.

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