LCID Anchored VWAP based swing trade LONGLCID on the 15 minute chart is shown with two sets of anchored VWAP lines overlaid being set
at the pivot low of April 22 and the pivot high of May 6th. LCID completed a trend down today
which began on May 6th. Price has reversed and is breaking up through VWAP band lines on the
chart. The faster green RSI line has crossed over the 50 level in the past trading session. Price
is now about to cross over the longer mean black VWAP line. I am taking a long trade here
targeting 2.88 for 25% of the position, 3.10 for 50% of the position and the reminder for a
runner position to extend for the uppermost band lines. The first two targets are based on the
intermediate VWAP lines as well as the upper and lower boundaries of a standard Fibonacci
retracement. The stop loss will be raised incrementally from its initial setting of
2.74 at the top on the EMA cloud. As the trend down took a few weeks. I am expecting a 2-3
week long trade following a projected trend up.
