Trading the channel on INS
Updated
INS has traded sideways out of its descending wedge and formed a short term parallel channel. Now is a good time to try to swing FUN for a small 5-8% gain depending on if we go all the way and hit the bottom of the channel before bouncing and touching the top. As it stands right now its mid channel with and signaling a market bottom. Volatility is not that low relatively though so we may not see that big of a move.
Trade closed: target reached
Just a disclaimer this is INS which has done nothing but go down in the long term. This could just breakdown and keep falling or do so after hitting the top of the channel. I wouldn't want to long INS. This is just trading the channel
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