Rivian (RIVN) is trading inside a rising weekly channel after breaking out from its base, and I am looking to participate in the trend with a first buy from the lower channel area and multiple scale‑out zones higher up.
The plan is to build long exposure near support, then take profit at successive Fibonacci retracement / extension levels that line up with prior supply, where I’ve marked first, second, and third sell zones.
If price drives into the upper channel boundary and those higher fibs, I expect volatility to increase and will be aggressively locking in gains; invalidation comes on a clean weekly close back below the lower channel line and recent swing low.
The plan is to build long exposure near support, then take profit at successive Fibonacci retracement / extension levels that line up with prior supply, where I’ve marked first, second, and third sell zones.
If price drives into the upper channel boundary and those higher fibs, I expect volatility to increase and will be aggressively locking in gains; invalidation comes on a clean weekly close back below the lower channel line and recent swing low.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.