A look back to my AON post a month ago, when selling was so aggressive causing the price to fall vertically, i identified a channel bottom price to enter, taking into account that a false breakdown might happen.
And it did, my 1st long call options were triggered around 78.5 but 77 was not triggered.
Took my profit when price broke up of my original downtrend channel, like i always do, expecting a break out so i can have more profit. Yes, i sold my long call 88 but i do not know this bull is so stubborn.
Hence i totally miss out on the upward price from 88 - 90.5. It doesn't affect me because i know surprise happens :-)
Now, i have added a new less steep downtrend channel based on latest price action.
Put options @90.5 triggered taking into account that the bull might continue charging back to the undercut of uptrend channel top!!
Indicator wise: MACD line was too separated apart, need to close, RSI trendline still up, and look out whether it breaks the support. I do not bother to wait. Short first.
Note: This is a extremely aggressive approach which will 100% incur loses for a much greater return (which might not happen). Hence all my post should not be construed as an advice to trade as it is. Please do your due diligence as well.
And it did, my 1st long call options were triggered around 78.5 but 77 was not triggered.
Took my profit when price broke up of my original downtrend channel, like i always do, expecting a break out so i can have more profit. Yes, i sold my long call 88 but i do not know this bull is so stubborn.
Hence i totally miss out on the upward price from 88 - 90.5. It doesn't affect me because i know surprise happens :-)
Now, i have added a new less steep downtrend channel based on latest price action.
Put options @90.5 triggered taking into account that the bull might continue charging back to the undercut of uptrend channel top!!
Indicator wise: MACD line was too separated apart, need to close, RSI trendline still up, and look out whether it breaks the support. I do not bother to wait. Short first.
Note: This is a extremely aggressive approach which will 100% incur loses for a much greater return (which might not happen). Hence all my post should not be construed as an advice to trade as it is. Please do your due diligence as well.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.