Analysis of Zoom (ZM) Setup


Here is an example of one of our intraday trade setups in the trading room in ZM this week.  We saw a nice confluence of Fibonacci price relationships at the 328.32-330.55 area in this name.  At the same time we had INTRADAY timing for a possible low.  

Timing is always a great addition to a setup and it makes the setup higher probability!!

This setup first triggered for day trade entries, but then also triggered for a swing trade entry on the 15 and 30 minute chart. Target 2 was almost met after a rally of $31.67 from the price cluster zone.  

At this time I would tighten stops on longs since many moves tend to terminate at extensions of prior swings.