LYFT trade ideas
LYFT - ShortWhats up Traders -
Made a nice trade on Lyft last week . . Following up on it this week with a swing trade.
We're looking at Lyft Puts - $30 - 7/24
Theyre currently trading at about .80c giving us a solid 2.5x RR for the trade.
Seeing a break in the uptrend and expecting us to re-test lows. I doubt we will hold this option full term, but i am prepared to.
Let me know if you have any questions or see things differently.
LYFT Long, Demand ZoneCondition:
Structure level had been used as both support and resistance more than 5 times.
At demand zone
Entry: 32
Stop: 30;
Target: 44; risk/reward=1:6
I am not a Pro trader. I need few months to work on rule based trading strategies.
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.
Waiting for Pullback to Short.Lyft is still on major downtrend. IF you are keen, you may wait for a pullback to short this counter. I have draw 2 channel (blue major downtrend & Red temporary uptrend).
If the price breakthrough blue channel, downtrend will be invalid. therefore SL can set anything above the blue channel.
Short @ $38
SL @ $44
TP @ Ride with the trend