Start 7: CMG 770-760 Debit Put, Morning Star play
(1) Low volume gap up Open, Initial trend down, Rising Vix
(2) Tuesday $20 move down, looking to repeat today or tomorrow.
(3) Consolidating at low of day as of the past 3 hours
(4) Break of Short term uptrend with consolidation
(5) 780 was a critical level, 1 HR wicks rejecting move above 780
(6) Drop may happen at break of 1HR 14MA(New Addition to help confirm my strat)
PT 760: calculated with ATR and prev drop range.
1.86 /c
9.30 PT
1:5 RR
(2) Tuesday $20 move down, looking to repeat today or tomorrow.
(3) Consolidating at low of day as of the past 3 hours
(4) Break of Short term uptrend with consolidation
(5) 780 was a critical level, 1 HR wicks rejecting move above 780
(6) Drop may happen at break of 1HR 14MA(New Addition to help confirm my strat)
PT 760: calculated with ATR and prev drop range.
1.86 /c
9.30 PT
1:5 RR
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