JNJ Long, V Pattern and Fib 0.382 Retracement
Updated
V Pattern,
Fib 0.382 retracement
Demand zone is not confirmed yet.
Estimate: Gap Up (G1) above EMA144
Earning will not affect this trade.
Entry: 140.5
Stop: 137.5; Below Demand zone
Target: 155.5; risk/reward=1:5
This is a trading school homework. I need few months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Fib 0.382 retracement
Demand zone is not confirmed yet.
Estimate: Gap Up (G1) above EMA144
Earning will not affect this trade.
Entry: 140.5
Stop: 137.5; Below Demand zone
Target: 155.5; risk/reward=1:5
This is a trading school homework. I need few months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Trade active
BuyToOpen Sep C155 Limit 2.40Stop Below 137.
Verify Gap and estimate Gap are very important steps in Option trading plan.
Trade active
Sell C160 Limit 1.62Till now, Risk 0.8 to win 4.2, risk/reward =1:5
No stop needed. This is a small winner for now.
Trade active
7/6/2020 BuyToClose C160 Limit 0.65 -- Win 0.97Sell C160 Limit 1.68. Total Sold 2.65. Good to cover the cost 2.4.
This is a small winner now. It could be a big winner later.
Trade active
BuyToClose C160 Limit 0.44 -- Win 1.68-0.44=1.24 Till now: initial cost 2.4, first sold offset win 0.97, 2nd sold offset win 1.24
2.4-(0.97+1.24)=2.4-2.21=0.19 -- this is current max risk to hold Sep C155.
Trade active
8/28 Sell to Open C160x2 and Buy To Open C165 -- Limit 0.84.9/9 BuyToClose C160x2 limit 0.1x2; 0.84-0.19-0.2= 0.45
Till now, hold C155 and win 0.45
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