DIS – Pattern Failur and Bearish Gap Fills
Trade Entry
Jan. 31 expiry. 142/147 Call Credit Spread. 73% POP. $2.50 Credit or more. $250 risk. $250 reward.
OR
Jan. 31 expiry. 143/148 Call Credit Spread. 67% POP. $2.50 Credit or more. $250 risk. $250 reward.
Stop is $148. Price above this and trade is invalid.
Chart Details
Bearish ascending wedge pattern.
Price fell out of pattern.
Bearish EMA cross and Bearish 10WeekMA price cross.
Multiple gaps to fill down to $118. This would be a good long entry once downward momentum stops.
Daily and Weekly trends both just turned Bearish.
Daily RSI trendline is indicator to exit bearish trade mentioned.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, MCD Bullish
Jan. 31 expiry. 142/147 Call Credit Spread. 73% POP. $2.50 Credit or more. $250 risk. $250 reward.
OR
Jan. 31 expiry. 143/148 Call Credit Spread. 67% POP. $2.50 Credit or more. $250 risk. $250 reward.
Stop is $148. Price above this and trade is invalid.
Chart Details
Bearish ascending wedge pattern.
Price fell out of pattern.
Bearish EMA cross and Bearish 10WeekMA price cross.
Multiple gaps to fill down to $118. This would be a good long entry once downward momentum stops.
Daily and Weekly trends both just turned Bearish.
Daily RSI trendline is indicator to exit bearish trade mentioned.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, MCD Bullish
Trade active
Order filled on 1/14 this morning.$2.83 credit received was better than estimation above.
Will update with progress.
Note
Jan. 14 to Jan. 15 - 142/147 Bearish Put Credit Spread - Opening order credit of $3.10. 2 contracts. Close order $2.60. Profit $100 for 2 spreads. 1 day hold.Jan. 14 - 142/147 Bullish Put Credit Spread - Opening order credit of $3.15. 2 Contracts. Close order $1.95. Profit $240 same day hold.
Trade closed: target reached
See above. Profit reached.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.