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LCID Anchored VWAP based swing trade LONG

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LCID 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.

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