accumulate limit long for 1/2 contract size as follows limit 10k buy @ $36.00 limit 10k buy @ $35.90 limit 10k buy @ $35.80 limit 10k buy @ $35.70 limit 10k buy @ $35.60 limit 10k buy @ $35.50 Target for all @ $37.80
No stops - prepare to hedge shorts @ $34.00. Risk : Reward, about 1:1. Don't chase the market. If you miss the trade, remember its a Friday, and you might not want to close the week on a bad note.
Take Care & Stay Safe
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All lots should have filled last Friday, to an average = $35.75 If Stops had not been raised to B/E (break even +comm) since Friday, & position stopped out on market open - Asia. Close 1/2 position size at current market value ($35.60) for a small loss = -$45, to reduce unnecessary risk. Place SL on Remaining position (30k) at $ 34.90. lower TP to $37.50
Take Care & Stay Safe
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Stop loss hit over night for remaining 1/3 contract portion at -$255 loss ($34.90-35.75) X 0.3 size.
Hello My friend, all but orders filled... I have a quick question, when it hits ~38 and it start it way down do you recommend getting buy orders as well on the way down or since this is expected to be a very deep dive is better to avoid. Once again thanks for all your sharing.
Summerset
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@LuisPrens, Hello.
No more buy orders on its way down. Buying this correction is a one time shot. (even if it extends). You should be selling on the way down.
Also $38.00 is a far away target, better to TP manually or by limit @ $37.30. if you are comfortable to ride to $38.00, then place SL @ B/E (entry + comm). This should be around $35.70
Remember that corrections are choppy affairs, and this could drop suddenly. So the important thing is not to win every pip to the last correction level, but to correct a round minor & reasonable "safe" profit "asap" - "as soon as possible" and without taking counter trend volatility risks.
Personally, I will close at $36.50/80
Take Care & Stay Safe.
UnknownUnicorn7657520
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Ready to ride the short :) Amazing how everything is running as explained all this days.