$RF^ as interest rates^. Bullish Wave Risk/Reward
As interest rates are on the rise it's key to know what securities do well in those conditions. One example of such a security is Regions Financial 
RF (sector = REGIONAL banks). Looking at both the immediate movement, after RF's Inverted Head and Shoulders, and the bigger picture of RF, you can see how this chart plays nicely with price patterns and healthy pullbacks. The positions of the A's and B's indicate that RF is currently in a Bullish wave. Had the " A " been the local high, and the " B " been the low: RF would be showing a Bearish wave pattern (C = current price). Using the Fib. Retracements you can also calculate your risk/reward ratio, entry point (near as possible to 0.38 mark), target prices and where to put your stops. Today's decline should not be of any worry, as these pullbacks are healthy and wanted for this security to remain Bullish. We'll probably see a pullback to the 0.76 level (9.92 - 9.94) before climbing upwards to make new highs. As long as interest rates keep rising RF and other REGIONAL (within the US) banks should continue to climb. Remember to protect your profits by putting in stops at the appropriate levels, take your profits when you reach your target (have an exit strategy) and keep your eyes on Bernanke and any QE news. Happy Trading! MYOL (Make You Own Luck)
RF (sector = REGIONAL banks). Looking at both the immediate movement, after RF's Inverted Head and Shoulders, and the bigger picture of RF, you can see how this chart plays nicely with price patterns and healthy pullbacks. The positions of the A's and B's indicate that RF is currently in a Bullish wave. Had the " A " been the local high, and the " B " been the low: RF would be showing a Bearish wave pattern (C = current price). Using the Fib. Retracements you can also calculate your risk/reward ratio, entry point (near as possible to 0.38 mark), target prices and where to put your stops. Today's decline should not be of any worry, as these pullbacks are healthy and wanted for this security to remain Bullish. We'll probably see a pullback to the 0.76 level (9.92 - 9.94) before climbing upwards to make new highs. As long as interest rates keep rising RF and other REGIONAL (within the US) banks should continue to climb. Remember to protect your profits by putting in stops at the appropriate levels, take your profits when you reach your target (have an exit strategy) and keep your eyes on Bernanke and any QE news. Happy Trading! MYOL (Make You Own Luck)
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