4D trade ideas
D short put 70, 42 DTESold D 70 strike, 4.2% from underlying for 11.55% AROI
42 DTE.
Dividend at the strike is 3.6%
I'm not in weekly demand here to initiate the trade, which would be proximal at 70.
But It has found some support at the -1 sigma range level and going sideways.
And since this is a Theta decay, there's no telling how long it can stay sideways and expire a put.
I've passed on many opportunities to grab 9 to 12% and thought price could move lower, but it just went sideways for 2 months, and left good premium on the table.
Not great, but not terrible either.
I'm thinking it gets stuck sideways at the 72.75 support level.
The hourly has pushed up and found top of the local range at 75.
So maybe it goes sideways for a couple weeks without going down to test 70, which I fully think it will.
I doubt it can stay much below 70 for a long duration over about 2 days because the dividend would be over 2x what the US10Y yield is at that point.
And I don't think the US10Y gets over 1.7 without the Fed coming in to smash it back down artificially.
Pull Back FishingDouble bottom and prior inverse head and shoulders which now has 2 right shoulders )o: So call in a complicated inverse head and shoulders (o:
I guess the world of charts is not perfect.
Bottoms like triple bottoms, double or multiple bottoms can mark important levels of support. Candle tails/shadows, especially long tails can show support and candle wicks/tops can show resistance, especially long top wicks.
No recommendation/just feels like a time to be defensive.
Negative volume is high showing big money interest. Short interest is .94%. Stop can be close by on this one I would think. Under the head/green star would most likely be safest if you plan to keep longer ter,m.
Dominion Energy - bullish patternH1 frame: a WXY (double zigzag is in the process). Target - the zone between fibo extensions 1 and 1,27 for the wave Y (based on the length of the wave W)
Daily frame: a larger impulse followed by a flat pattern (marked also with a regression channel). Price may have formed a first impulse up in the direction of the prevailing trend, that is now being corrected.
Good luck!
$D with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $D after a Negative Under reaction following its earnings release placing the stock in drift D
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Dominion Energy Inc. The next big move When you compare what is happening now to what happened at point 1 you will see a similar but opposite pattern. At point 1 you will see that after the abc pattern completed the saw a total reversal, now a bigger abc pattern is completing. A possible reversal ahead. Comment what you think below. Don't forget to click the like if you do. Thank you.
Bullish Cyper PatternD (Dominion Energy is testing the D level that ends this pattern. If price falls more than a 10 to 20 cents below 72.66, the pattern is not valid..D can not go below X for this pattern to be valid.
C must be higher than A for the pattern to be valid and there are a lot of fib rules that this harmonic pattern must meet to be valid. All harmonic patterns have fib rules and can get very confusing. This one is easier for me to pick out as C is higher than A and that makes it stand out to me. The Gartley pattern C is below A.
These patterns come in bullish and bearish versions, but if you know them, you can go long at the optimal time and also be close to your stop. Like any pattern, these can fail. If price falls too far below D..have a stop so you will not be risking much.
Whether you go long or short you can make money on either the bullish or the bearish harmonic patterns because if you know them well enough, you can almost pinpoint where they will trun. IE, had I known this was a cyper pattern, I could have went short at C until it got to D. Thing is, often you do not know which one it is until rules are met. The cypher pattern is a bit different and for me, it is easier to read than some..but it also occurs less frequently than the others like the butterfly, ABCD or the Gartley. ABCD is included in the harmonic patterns but is also a harmonic pattern when it stands alone. You can start figuring out which pattern it may be by where the AB leg lands. Lots of info available on harmonic patterns online, YouTube and books by S Carney.
It is not unusual for a retest of D to occur and sometimes more than 1 retest of D occurs.
Not a recommendation
Traditional|D|ShortShort D
Small idea.
TA:
Enter the trade when the support of the triangle (lower line) is broken.
Reasons: formation of three peaks of almost the same level, weakening of the RSI (Screenshot attached).
Change in local dynamics inside the triangle (min/max going down).
Orange is the last support zone, when it breaks and fixes, the trade can be closed (If it was opened).
Take - green zone.
