Buying a MSTR puts with 1 - 2 months on them with strikes scatted from 1200 - 1000.
We've recently hit the 4.23 - which is a very common move for the end of an extreme extension.
Coupled with the various possible rug setups in crypto I fancy the odds of a big reaction here.
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Major decision area here.
Stops trailed on entries from high to even. Would want out if there was a low made in this area. If we can break the pending support zone we're in I think we'll see a quick move down to 1150.
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As things stand this looks set to open quite close to the break target above.
Will be proactive trailing stops and locking in profits if we open 10% down as implied by the out of hours trading.
Will remain short - but will lock in profits with trailing stops. 25% drop in a day on puts isn't to be sniffed at.
But this might just be the break.
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Retracement would end around here if we're in a strong bear trend.
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Unspeakable things would happen to this MSTR chart if BTC made the breaks spoken of in this post:
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COIN could make a similar move.
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Shorting common in NASDAQ:MSTR and replacing the puts I hit trailing stops on near the lows.
Trade active
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1090 next downside target if it works.
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MSTR now 50% off the high.
And this is when BTC is only just making the first break of 60K.
Sheer chaos to come in this if the BTC break develops further.
Well, it was going to have a downturn..however it's linked to Bitcoin and when that goes up so does MSTR..this "stock" is really a Bitcoin ETF in disguise ... I wouldn't follow traditional stock technicals ..Just my opinion ...
Good you must be mentally challenged it’s okay. Just remember you always have yourself to blame. After all it’s the hardest appreciating asset known to humanity. If you doubt that and fuck around - you will find out.
@Zeeenos, Don't kick people when they're down. Everyone gets stuff wrong. The mark of how smart people are is how well they learn to adjust from errors.