BULL PULLBACK SETUP:
Uber made a new swing high February 8th. Since then, it's been pulling back with lower or equal volume and the price action from yesterday triggered me to get in today.
I'm going to give this a couple weeks just incase this wants to pull back some more. I'm set up for max loss risking a little under 2% of my portfolio.
My target of 38 was determined viewing the hour chart and I would anticipate this getting to 38 by the start of March.
However, if this gets to 38 before the 24th, I'll take off 75% of my position. Come the 24th. If we are at 38 or above it, I'll close out the entire combo. If we are below 38, I'll hold on to my 36 call until we get to 38.
Uber made a new swing high February 8th. Since then, it's been pulling back with lower or equal volume and the price action from yesterday triggered me to get in today.
I'm going to give this a couple weeks just incase this wants to pull back some more. I'm set up for max loss risking a little under 2% of my portfolio.
My target of 38 was determined viewing the hour chart and I would anticipate this getting to 38 by the start of March.
Trade active
Comment:
letting my 38 strike expire. Let's see if we can get above 36 by next Friday.
Trade closed manually