This Week, I’ll just dive into a simple range bound trading opportunity.
Ticker - BTI
As we have discussed before, range bound trades offer a great way to take a low risk long or short position.
Today we will be taking the long position from the bottom of the range at R522.00
As with the usual guidelines I like an extremely oversold stochastic RSI coinciding with the bottom of the range (see below).
Lets set our stop on this trade, this will be a daily close below R507.50.
Our target for the TP is R580.00.
As you can tell this offers us a really nice Risk to Reward trade.
Lets set our trades and watch if it plays out in our favor this week.