Asymmetrical Trade Idea - BBY

I'm a buyer of BBY at this level

Best Buy - BBY

Three identical charts PLUS my exit chart if price doesn’t behave

1️⃣

• No lines. No drawings. No bias.

BBY

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2️⃣

• 150 day moving average in orange

• Price checks back to the average then bounces

• Volume profile - green arrows - price spikes higher on heavy volume

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3️⃣

• Price testing the bottom rail of the parallel channel

• Double bottom indicates trend reversal

• Possible target zone - red circle

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What if Price Fails?

• If price cannot hold the trend line, the pattern is broken

• Red rectangle indicates GET OUT - failed move

I am a buyer of BBY with a sell stop limit on the other side of the green trend line. Simple risk management. I can’t predict what price will do but I can use the probabilities to increase my odds. Low risk for significant upside.

The risk to reward on this trade is asymmetrical.

That’s all for now.

Eric