MoneyPatterns
Short

SMH - Short-term Bearish

NASDAQ:SMH   VANECK VECTORS ETF TRUST
TRADING ACTIVE

Chart Details
SMH had sell signal on Daily yesterday.
I entered trade but did not post. Waited for trend dots to confirm.
Trend dots confirmed bearish trend very end of day.
Gaps to fill below down to $111.
Weekly RSI trend is about to breakdown.
Daily trend dots confirmed bearish trend .
I will post a Weekly view chart for SMH when trend confirms Bearish weekly view.

Entry Options
I am entered in the Jan 17. Expiry, 140/145 Call Credit Spread ( Bearish bias). $2.48 Credit received. This trade assumes both 140 & 145 Calls will expire worthless with SMH below $140 by Jan 17. Total credit is kept as profit. Max gain and max loss both approximately $250. Average POP around 65%. Not the best.

About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website https://www.moneypatterns.com. Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD , GBTC .
Short term - GDX Bullish , SPXS Bullish , SMH Bearish
Trade closed: stop reached: Stop reached. Trade closed

Comments

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