Highprobability
Low Risk Weekly DIA Credit SpreadI'm looking to enter a Put Credit Spread on DIA with the goal of collecting $5-$6 worth of credit per contact with a $1.5 wide spread. I'll be holding till DOE with the intention of growing capital invested by a minimum of 5% for the week.
-Current price is: $308
-Credit spread sell strike: $290
-Current price to sell strick: 6.2%
-Is price trading above 50 day SMA?: Yes
-Is price trading above 200 day SMA?: Yes
-Percent OTM if held to DOE upon entering, is: 92% - 94% of being OTM if held to DOE
-Technical analysis: DIA is trading above 50 and 200 day SMA which signals that we are in an uptrend. Our sell strick has been placed below .382 (292.5) fib retracement level. This price zone has held as support in the past I'm looking for it to hold again this week.
Let me know what you think. Have a nice day.
USDCAD BEARISH So Readers,
You have my idea on USDCAD:
Monthly, Weekly and Daily chart all heading bearish. There isn't any need to go long this market !
Big player are in the market now as we have the 3*HTF momentum poised Bearishly
The short term target at 1.2600 seems viable traget... Biden in the white house doesn't help out the US dollar
Bearish momentum must continues this first quarter. I personally reduce the risk at the beginning of year !
Keep the risk low and have a control of your trade :)
GBPJPY Day SELLBank of England may cut interest rates into negative territory to support recovery.
The harsh blocking measures will continue for at least another month, likely to affect GDP.
GBPJPY Day SELL Price has risen to high at 142.23, there is a chance to come down to support at 138.26.
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Good luck.
Trend Line Probability Proof, GBP/JPY LONGThis is to show that you must always to play to the highest probability trades, know when your trades are in best situation to execute and hit TP, read notes on chart to gather an understanding of my theory for my trades highest probability setups. And most importantly why I didnt choose to execute on this trade (with proof).
THIS IS A DOUBLE BOTTOM SETUP.