My trade idea is as follows Observations - 20 EMA crossed the 50MA - Although the 100 MA held up, it's likely going to get broken and get tested from below. - It could move all the way down to 10,000 Proposed trade - Start with a bear call spread with the short leg at 12,250. You can then buy a call 50-100 points above that. Risk management - Monitor how the...
This is an A+ Bullish set up - The 50MA crossed the 100 MA - bullish - The chart broke out of the triangle then moved up. It crossed the resistance with a ton of momentum. - Then it tested the previous resistance as support. The support held, also showing an indecision candle It's likely going to hit the next resistance, at around the 1.705 level.
long tail candle at support which held up nicely. Broad indexes are all up. Looking positive
Hi folks, I would love your input on my analysis and rate my trade. - Last week, I entered into a Bull Put Spread 1500/1400 Oct 30th expiry. I KNEW we're heading into bearish territory, but I listened to my heart instead of my head. Nevertheless, here is my reasoning - 1500 is below the 50MA and the 100MA. - By the time Oct 30th comes around, 1500 will also...
Hi folks, I would love your input on my analysis and rate my trade. - Last week, I entered into a Bull Put Spread 3350/3200 Nov 20th expiry. I KNEW we're heading into bearish territory, but I listened to my heart instead of my head. Nevertheless, here is my reasoning - 3350 is below the 50MA, which has served as very good support in the past. - By the time Nov...
Observations Although there big engulfing red candle today, the 50MA held.. barely. The body of the candle closed above the 50MA. Such strong bearish movement is likely going to continue tomorrow and it will likely test the 100MA. There are some strong supports though. The candle closed above the trendline, in addition to the 50MA support. The next...
The market can go either way next week, but likely down instead of up. It tested the resistance and failed. It's likely going to fall back and test the 50MA. Although I wouldn't take a directional trade, I would sell a credit spread with DTW before Oct 30th, with the short let at 11,000 or below. By the time it expires, 11,000 would be below 50MA and 100 MA...