I'm buying an IBM call Spread 150/160 Cost $3.01 max gain $6.99

Expiring September 20th.

This looks like a good play, however if the market goes for a downturn this may push through it.

I think AAPL earnings will be a reflection of the tariff against China we'll have to wait and see.

Broke out of cup and handle , also OBV is rising and RSI is overbought however its printing a false signal I'll ignore it, it may trend sideways as it builds for a move higher.

Downsides are it could be weighed down by poor earnings season. That could be the only way to lose this trade unless this moves sideways.

Otherwise Risk/Reward = Green 7/10
Trade active: Added $150 Call EXP Sept 20

$3.46 Cost
Comment: Should not have added until after rate cut and until move continued into bull flag formation continuation. Loss was $162
You were on point on this entry. If you don't mind me asking, how do you determine if the RSI is giving false signal? thank you
@TEMHOTA, Rising OBV, I mainly use RSI as a divergence indicator. If OBV is rising then RSI convergence could be taking. That's the reasoning behind it. Also earnings catalyst, this is just a game of probability and each one of these indicators increase or decrease probability. There is no certainty. So this pattern could still turn around and go red. We'll see. Odds seem good for me though.
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