Bear case (just a theory): If we take a look at time and space on this daily chart, 25 bars (35 days) for the trough-peak-trough before the election. If we take the FDA talk on the vaccine for the same whatever reason, I believe there is a possible downside of ~9% until Dec 9th, a trough-peak-trough total of 29 bars (36 days).
- Yellow trend line act as...
3H hanging man candle.
Trading range.
indicators divergence.
looking into selling call spread, buying $90 leg just in case trading range break so I can close my short leg.
red shadow as support as well as trend line support.
inverted hammer candle on daily chart (possible)
entered earlier dec4 115 113 bull put credit spread currently down 40$
tested support 3 times
low volume price action to wash out weak hands
engulfing candle
suggest reverse of trend, possible W shape bottom
RRR: 2.7
PT: 109
SL: 63.55
RRR: 4.9
PT: 136
SL: 63.55
