DIS – Pattern Failur and Bearish Gap Fills

Trade Entry
Jan. 31 expiry. 142/147 Call Credit Spread. 73% POP. $2.50 Credit or more. $250 risk. $250 reward.
Jan. 31 expiry. 143/148 Call Credit Spread. 67% POP. $2.50 Credit or more. $250 risk. $250 reward.
Stop is $148. Price above this and trade is invalid.

Chart Details
Bearish ascending wedge pattern.
Price fell out of pattern.
Bearish EMA cross and Bearish 10WeekMA price cross.
Multiple gaps to fill down to $118. This would be a good long entry once downward momentum stops.
Daily and Weekly trends both just turned Bearish .
Daily RSI trendline is indicator to exit bearish trade mentioned.

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Disclosure - I am long BTCUSD , GBTC . Short term GDX Bullish , SPXS Bullish , MCD Bullish
Trade active: Order filled on 1/14 this morning.
$2.83 credit received was better than estimation above.
Will update with progress.
Comment: Jan. 14 to Jan. 15 - 142/147 Bearish Put Credit Spread - Opening order credit of $3.10. 2 contracts. Close order $2.60. Profit $100 for 2 spreads. 1 day hold.

Jan. 14 - 142/147 Bullish Put Credit Spread - Opening order credit of $3.15. 2 Contracts. Close order $1.95. Profit $240 same day hold.
Trade closed: target reached: See above. Profit reached.


I've made a mistake on this one, but I was still able to come out with a cool hundo.

On the 14th, at 11:35 AM, I sold a $143/148 put credit spread for ($2.55). I believe it was at this very moment, the $142/147 spread wasn't favorable and I was a bit emotional with FOMO.

It was going well, but there was just some stalling in the ticker that I wasn't appreciating with its candle development.

So on the 15th, at 8:47 AM, I exited out at ($2.35).

Took the 20 cents of profit on my 5 spreads and called it a day.

I look forward to re-entering, @MoneyPatterns

Thank you.
+1 Reply
MoneyPatterns tuparkshakur
@tuparkshakur, Thank you for the update. VERY happy you got profit here. Me too :) Decent Money Pattern on this one.
I think we can find a replay...I will examine probabilities for the next few weeks to see our trades.
today stronger than i thiught
MoneyPatterns RobFlorio
@RobFlorio, Think we are good here. Price retested yesterdays lows, which was todays high.
Look at price pattern on Daily....lower highs and lower lows every Daily candle means trend is down.
Think like an old lion. Nothing makes an old lion panic.
They don't hunt or chase.
They wait at the watering hole (where everything comes) to find the sick or injured gazelle.
DIS looks sick to me given the pattern. So this lion is already hanging on DIS's back, just waiting for it to tire out.
Matter of time :)
wait now its failing? t was ready to go up
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