CVX reached a major Monthly Resistance in the past week and today saw major volume in sold shares and bought Puts which drew my attention. CVX Option volatility is still above average so the best play would be buying Vertical Put Spreads. Buying the September 16 95/92.5 Spread for $0.58 yields a greater than 3:1 Reward/Risk if it reaches max profit. I'm aiming...
CRUDE FOUND BALANCE AND WAS MET WITH SELLERS AT THE HIGH....
WATCH FOR AREA AT 41.80 -40.00 FOR A POSSIBLE LAUNCH TO RETEST THE HIGHS...
WE NEED TO CLEAR THE AREA OF RESISTANCE TO ACT THE $55 MAGNET AREA.
ANY FAILURE WILL SEND THIS BACK DOWN TO THE LOWER BASE
TIME CAME IN AND PANIC SOLD DOWN TO SUPPORT.
TO CONINUE THE ADVANCE WE NEED TO STAY ABOVE BOTH PIVOTS
OR A SIDEWAYS RANGE WILL POSSIBLY DEVELOP MORE IT SHOWS IT AGENDA.
PRICE STRUCTURE AT "POTENTIAL RESISTANCE"
TIME IS APPROACHING ....
TRADE THE DEFINED PARAMETERS ON PRICE ACTION.
IN THE CENTER OF THE RANGE IS THE "KILL ZONE"
PRICE IN ENTERING
"PROBABITIY ZONES"
IT PROVIDES INFORMATION WHERE TO ACT AND WHAT
HAPPENS IF PRICE BREAKS THE AREA.
HAVING INFORMATION BASED ON PATTERN AND TIME
HELPS ONE FORM THERE ROADMAP FOR "THE TRADE"
