Short idea.
Since the beginning of 2023,
CVNA has seen a run-up in February that has since run down. Based on the monthly market profiles, excess was generated > 16, and price has not been able to reclaim February's VAL. Currently trading below 200D and testing the 50D. Combined with today's gravestone candle, this feels like big sellers are present > 12.
Short targets: 9.75 / 10 / 10.50
Profit targets: 8.5 / 7.5 / 6.5 / 4.5
Trade is invalidated > 12
Since the beginning of 2023,
CVNA has seen a run-up in February that has since run down. Based on the monthly market profiles, excess was generated > 16, and price has not been able to reclaim February's VAL. Currently trading below 200D and testing the 50D. Combined with today's gravestone candle, this feels like big sellers are present > 12.Short targets: 9.75 / 10 / 10.50
Profit targets: 8.5 / 7.5 / 6.5 / 4.5
Trade is invalidated > 12
Note
Eyeing .CVNA230421P9.5 @ ~1.0Trade active
BOT CVNA230421P9.5 @ 0.97Scaled out 25% @ 1.25
Next trim when CVNA <= 8.50
Stop is BE
Note
Currently 1.34Trade active
If I get stopped out and contract doesn't go < 0.8 and chart looks okay, I'm re-enteringTrade active
Got stopped BE, but re-entered CVNA230421P9.5 @ 1.0 and added back trimSL = 0.8
Trim planned at 1.3
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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.