WFC Long, sideways bottom
Identify Price action:
1. Sideways; Find: Support and Resistance
2. Sudden Reversal; Find demand and supply Zone.
Entry 24
Stop 22
Target 26; reward:risk=1:1
Target 30; reward:risk=3:1
Target 33; reward:risk=4:1
Current price is at bottom of sideway range.
Estimate: not going down below demand.
Strategy: Sell Put
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
1. Sideways; Find: Support and Resistance
2. Sudden Reversal; Find demand and supply Zone.
Entry 24
Stop 22
Target 26; reward:risk=1:1
Target 30; reward:risk=3:1
Target 33; reward:risk=4:1
Current price is at bottom of sideway range.
Estimate: not going down below demand.
Strategy: Sell Put
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
Trade active
Option trade: SelltoOpen Jan P22.5/17.5, limit 1.26; No Stop; Willing to be assigned.
Unless SPY into daily downtrend.
Note
Correction: This position should be stopped under 22. about 0.7 stop loss.
Trade closed manually
closed buy limit 0.85, a small winner
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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.