Drawing trend lines allows this structure to form
Within this structure is a smaller channel up, I want this to break out to the upside strongly, potentially out of its channel contained in and touch the upper trend line
If the upper trend line is touched it would be a big move
Bars pattern as usual for the example price movement
IWM has a beautiful set up after bouncing off bull flag trend line resistance turned support. Love to see it! Noticed 25% of the IWM is financials. This is the first one I looked at. This monthly chart is beautiful. RSI is above 50 which is bullish and we have a couple other set ups. Inverse head and shoulders and I could see this turning into a cup and handle...
Heavy resistance at $50 , but looking at the weekly MACD and using an anchored VWAP pinch, she looks ready for a move. Once $50 is cleared it's blue skies. High reward low risk in my opinion.. just an idea :)
Brighthouse Financial, Inc.
Brighthouse Financial, Inc. provides life insurance and annuity solutions primarily in the United States. The Company offers shield, variable, guaranteed, income, and fixed annuities as well as life insurance, retirement planning and financial advisory services. Brighthouse Financial, Inc. is based in Charlotte, North Carolina.
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Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
Based on the 1-2-3 Trading Rule, Point 1 had already happened when BHF broke out of the downtrend line. Point 2 happened when it printed a higher low. Wait for point 3 (a higher high) to enter. If held until wave 3 target is reached, this will be a 10R trade.
