I like MRNA long here and I feel it has closed a significant gap to the downside. The move today was quite bullish in terms of a reversal setting up and the Fib analysis shows that a potential retest of 135 zone may occur soon enough. This is in addition to some of the positive news that have been flowing on MRNA vs PFE vaccine usage as some states preferring MRNA due to low requirements on cold storage etc.
Nevertheless, I am not a fan of news driven trades and so I would like to pair this with a put hedge on PPH (figure below; courtesy @the_chart_life on Twitter). It is an interesting pair trade though PPH may not give me enough bang for the buck in case the market does turn and drag everything down with it. We shall see..
Numbers on your fibo levels looks switched.. but the idea could work.
unknownreference
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@dominikredenczki, thanks for the comment. I feel it is a matter of taste on the Fibs and whether it is reversed. I usually set 0 as the start of the original trend, since my bias is bullish. Not sure if there is a right way to do it, but as long as the idea translates, all good.
dominikredenczki
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@unknownreference, I'm saying with love, but in this case you better to double check that. At home it's not a big deal, but when you publish ideas I think it needs to be clear. Otherwise keep pushing! ;)
unknownreference
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@dominikredenczki, Understood. I've had the same discussion with other folks as well.