I am not a PRO trader. I trade option to test my trading plan with small cost. The max Risk of each plan is less than 1% of my account. If you like this idea, please use SIM/Demo account to try it.
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Buy Aug C12.5 limit 1.55 stop 7.5 Prepare to sell OTM call.
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Buy Aug C10 0.9 -- When price was at 8.00, -- today at 10.5 Sell Aug C15 0.8, to hold C10/15 SellToClose C12.5, limit 1.2, lost 0.35
@wuweiparis, Thanks, good question. That is a basic skill "identify demand/supply", find the high quality turning point in the past. It might work as turning point again in the future. Most of the time, use the candle body price.
wuweiparis
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@PlanTradePlanMM, , what would be the reason that justifies this potential up trend?
I know, I can be insisting.
Forgive me I am being objective and I like CANOO.
Thanks
PlanTradePlanMM
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@wuweiparis, If it is beginning of Uptrend, you will see bottom ABC pattern. AB with huge volume, BC pull back, C will be higher than A, with smaller volume. See the pattern in my HLX trade.