Target-ing (TGT) a Long

23 Jun 2023

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.