During the TTP Weekly Webinar, Ronchero discussed how multiple members in the room traded $BA as it tested and broke through the 200 SMA.
- Traders need to use the tools/indicators establish price targets before they are in the trade. Ronchero first put a Fibonacci Retracement on the 1 minute chart
- After the first test of the 200 SMA, levels show consolidation on the .382 Fibonacci Extension and another move up to the 200 SMA
- If you missed out on the first move, adjust your indicators to look for the next price level to be targeted. After you adjust your indicators, you notice the AVWAP and Fib levels line up together.
- Have a plan for potential scenarios that could play out after you are in the trade by using historical levels of support/resistance, Fibonacci Levels, and anchored VWAPs
We will keep watching how $BA acts as it approaches the 200 SMA. Follow us on Twitter or get updates by subscribing below.