FXI prepare to Long, buy after re-test breakaway Gap
Existing Condition: demand Zone had been confirmed.
G1: breakaway Gap broke previous downtrend.
Pending Condition: Re-test breakaway Gap,
After Gap fill, it should not go lower.
Confirmation entry: If it goes lower after the Gap fill, do not buy.
Buy Above 34.5 and below 34.85
Stop: 34
Target: 37.5
Risk/reward=1:3
Advanced Option Plan:
YANG (Direxion Daily China Bear 3x Shares ETF NYSEARCA: YANG)
If FXi will go up 8%, YANG will go down 24%; Buy YANG Put in long term.
The problem is this 3x kind ETF options are very expensive, you must have the experiences to trade and lock profit at the right time. They are not good to be traded most of the time. Currently, Some brokers do not allow open trade this kind 3x options, they only allow close trade.
This is a trading school homework. I need 6 months to practice trading plan.
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.
In real trade, I use options. Using Option allows me to set my stop behind next fresh demand/supply zone, to avoid being stopped at the same price as other stock traders.
Sum of my ideas: 1 winner, 1 loser, 1 active, 7 cancelled, 3 pending for condition, 1 analysis only.
G1: breakaway Gap broke previous downtrend.
Pending Condition: Re-test breakaway Gap,
After Gap fill, it should not go lower.
Confirmation entry: If it goes lower after the Gap fill, do not buy.
Buy Above 34.5 and below 34.85
Stop: 34
Target: 37.5
Risk/reward=1:3
Advanced Option Plan:
YANG (Direxion Daily China Bear 3x Shares ETF NYSEARCA: YANG)
If FXi will go up 8%, YANG will go down 24%; Buy YANG Put in long term.
The problem is this 3x kind ETF options are very expensive, you must have the experiences to trade and lock profit at the right time. They are not good to be traded most of the time. Currently, Some brokers do not allow open trade this kind 3x options, they only allow close trade.
This is a trading school homework. I need 6 months to practice trading plan.
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.
In real trade, I use options. Using Option allows me to set my stop behind next fresh demand/supply zone, to avoid being stopped at the same price as other stock traders.
Sum of my ideas: 1 winner, 1 loser, 1 active, 7 cancelled, 3 pending for condition, 1 analysis only.
Trade active:
Trade Option: 3/20/2020 7:01 AM PST
Buy Jun (88 days) Call 35 Limit 2.82
Buy Jun (88 days) Call 35 Limit 2.82
Trade closed: target reached:
this is a winner