Unusual Volume Triggers for Cyclic Trends
Using unusual volume and Option Expiration Fridays as pivot points to draw out 45 day and 7 day trend line cycles, I'm predicting that TSLA will have a retracement near the $269 price - correlated to the 50% Fibonacci Retracement overlay. I've drawn out a couple of 7-day cycle trends that are not biased validations.
Stop Loss price at the previous support of $251.
I added TSLA shares to my portfolio position on 9/16 at $255.
I will check the TSLA OCT option chain to evaluate a potential Long Call position at the In-The-Money strike price
premium. I use a Covered Call Return formula to validate the execution of a Long Call, using a Limit Order entry for the first hour pull back. One aspect of my trading strategy is to use the first 15 days of a new option cycle to optimize option positions on highly liquid equities - regarding time decay and volatility factors.
Duration of trade - I will hold my Long Call position within the 7 day trend with a trail stop to protect me against sudden mean reversions.
Peace.
Stop Loss price at the previous support of $251.
I added TSLA shares to my portfolio position on 9/16 at $255.
I will check the TSLA OCT option chain to evaluate a potential Long Call position at the In-The-Money strike price
premium. I use a Covered Call Return formula to validate the execution of a Long Call, using a Limit Order entry for the first hour pull back. One aspect of my trading strategy is to use the first 15 days of a new option cycle to optimize option positions on highly liquid equities - regarding time decay and volatility factors.
Duration of trade - I will hold my Long Call position within the 7 day trend with a trail stop to protect me against sudden mean reversions.
Peace.
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