Trade near resistance - PUTS - Leave trendlines on your charts
> I drew this red line in the middle of February, and it sill proves useful one month later. I would have liked TSLA to move up to 670 this morning (line on my chart) but I am not sure it will reach that high.
> Watch 30min chart - RSI will turn down from 50 line if selling increases. Also monthly chart shows stock may head lower to 10sma.
> Suggestions are weekly 580 or 600 puts, or 3/20 expiry 500 or 550 puts. Depends on how much capital you want in this trade; and keep a small position (even one is alright for a small account).
> Watch 30min chart - RSI will turn down from 50 line if selling increases. Also monthly chart shows stock may head lower to 10sma.
> Suggestions are weekly 580 or 600 puts, or 3/20 expiry 500 or 550 puts. Depends on how much capital you want in this trade; and keep a small position (even one is alright for a small account).
Trade active
I bought weekly 580 puts at 8.21.Trade closed manually
Closed half position at $27. Will close other half today when/if trading resumes.
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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.