Bearish Engulfing, breakaway Gap, trendline break + retest. assumption: Fib# Ext. to 3.618 ( 238 ), retracement to 1.618 (182)
Short 240 Stop 225 Target 185
Risk management is much more important than a good entry point. I am not a PRO trader. In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
Trade active
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BuyToOpen Aug Put butterflay P200/180/160 ( Buy P200 and P160, sell P180 x2 ) Limit 2.04, P200 delta is -0.22
crazy how they short squiz today , the premarket scum deep buyers
PlanTradePlanMM
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@TORNADOF5, I felt SMH sector might have 25% consolidation before Sep. 2024. The whole year trend is still up. up/down short term is hard to trade . play a game with little money .