Drew , Verify the price action:
1. breakout to up side,
2. Pull back to re-test the
Stop: 49; when
Target: 57; risk/reward=1:3
This is a trading school homework. I need few months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
(delta = -0.15, Theta= -0.04, 21 days left, today is Friday)
Option Stop below 48.
From now on, I will begin to use my drawing tools in trading plan.
Even though, These studies show high winning ratio in back testing mathematically. I don't trust it yet.
I need to use them in real trade, to improve my skills as these studies designed.
In this trade, I sold the put far below the stop. I just want to test how it works.
Just to prove concept.