SIDEWAYS RANGE TRADE SET UP:
For the most part, this has been making relatively equal highs and lows between....let's call it 120 and 130. The 20 day and 50 day are flattening and it's not in any strong rally or strong pull back. I determined my target using the hour chart. I was thinking about having this expire this Friday, but I didn't feel that was enough time so I put it out until next week.
I'm set up for max loss and risking only about 1% of my portfolio.
For the most part, this has been making relatively equal highs and lows between....let's call it 120 and 130. The 20 day and 50 day are flattening and it's not in any strong rally or strong pull back. I determined my target using the hour chart. I was thinking about having this expire this Friday, but I didn't feel that was enough time so I put it out until next week.
I'm set up for max loss and risking only about 1% of my portfolio.
Comment:
Ok so we're 125 a day before expiration. I might close this out today
Trade closed manually:
im out