Based on long-term trendline, UXIN is in a downtrend
The most recent breakout above the trendline brought price action back to the reversion to the mean
May 3rd: In a consolidation pattern
May 6th: Wait for confirmation of up/down trend, follow price action
If breakout to the upside occurs, entry will be
If breakdown to the upside occurs, entry will be...
QTT is in a bear flag continuation pattern. Pennant formed and downtrend continued. May 1st and May 2nd forming support & consolidation. Waiting for price action to confirm downtrend or consolidation. Further downtrend expected based on bear flag pattern.
I placed a 'long gut' on the $7.5 strike price with May 17 expiration. Neutral strategy with unlimited profit and limited risk. Will see how this plays out with potential bear flag consolidating before expiration, or dropping lower. Thoughts? Suggestions?