Search
Products
Community
Markets
News
Brokers
More
EN
Get started
Community
/
Ideas
/
SOFI flat to slightly negative YTD LONG
SoFi Technologies, Inc.
Long
SOFI flat to slightly negative YTD LONG
By AwesomeAvani
Follow
Follow
Mar 10
1
Cheer
Cheer
Mar 10
SOFIR showed here on the 30 -minue chart has had great volatility in going no where since
the start of the year. Volatility can be harnessed for profit. This is the essence of swing
trading. With an intermediate term anchored VWAP band and line setup, it can be readily
seen that price first was resisted by the second lower band line in purple then broke out
through the band lines to meet resistance at the second upper band line ( again in purple)
and broke down through the band lines to get support at the first lower band and then
reversed and returned to the second upper band where it was rejected and fell into the
support of the second lower band from which it is now bouncing. This is a
VWAP band
oscillation pattern
which can be traded. I will take a long trade of SOFI here, first
targeting the mean VWAP at 8.05 and then 8.6 below the first band and finally 9.05
below the second upper band. Partial closures at 25%, 50% and 25% respectively.
I see this as a way to exploit SOFI volatity in swing trade profits which can also setup as
short trades.
anchoredvwap
Breadth Indicators
fintechisthefuture
Oscillators
PYPL
sofi
Volatility
vwapbandbreakout
vwapbands
vwapbounce
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
.