Double bottom to trap the buyers and will just push further down to around 1800 .sell around the 1850 and target profit will be around 1800 since that's where the liquidity is .
very possible to see this move to the downside, but first I would like to see a daily retracement
jigz91
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@transparent-fx, possible of retracement once it reaches around 1800 but for now i see only protentional downside but defiantly appreciate your idea
iSOFUNNY
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@jigz91, I agree with @transparent-fx Looking or a daily retracement to 1910-1915 which will be triple resistance of descending triangle trendline, 15 and 20 day DMAs. Then a drop to 1800-1810. Sure, Sell 1850 October calls now but look for an opportunity to pick up higher valued calls as well before it goes to 1800.
jigz91
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@iSOFUNNY, well luckily was able to exit the position with a breakeven ..and yeah at least I was able to exit the position and break even thanks to transparent- fx .. and yeah I was impatient cause I cut my tp to early and felt like I missed the whole move to the downside .. still need to control my emotion ..lol .. And thanks for the your wonderful insight isofunny .. apricated.