Target-ing (TGT) a Long
The Setup
Target
TGT has had a very bearish fall off All-Time-Highs over the last 2 years. It has finally retraced the entire length of its run from the 2019 Pre-COVID High and returned to it as potential Support. Price MUST hold here or else continue down to lower levels in the "Valley of Risk". It is worth a trade off this level.
The Trade:
Today on the opening 30 minute spike we got such an opportunity for a low-risk entry. The price spike had an acceptable ATR Clearance per my rules and happened on the 50% Retracement of the June low to June high. The first Target is the June high with a following target of the 50% Retracement of the 2023 bear trend around 153.39.
Target
TGT has had a very bearish fall off All-Time-Highs over the last 2 years. It has finally retraced the entire length of its run from the 2019 Pre-COVID High and returned to it as potential Support. Price MUST hold here or else continue down to lower levels in the "Valley of Risk". It is worth a trade off this level. The Trade:
Today on the opening 30 minute spike we got such an opportunity for a low-risk entry. The price spike had an acceptable ATR Clearance per my rules and happened on the 50% Retracement of the June low to June high. The first Target is the June high with a following target of the 50% Retracement of the 2023 bear trend around 153.39.
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Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
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