All set to retest covid lows?Once it breaks below 72 and stays below it, then look for it to retest covid lows before the end of the next year.
Planetfitness
Planet Fitness Options PlayEasy Loot Options Signal | Estimated time: 2 Weeks
Inside the Easy Loot options chat, we're looking at 2 contracts to play Planet Fitness. The first play will be quite accurate & is based on Technical, the second play is also somewhat played on Technical but is very far otm.
These are not suggestions, always do your own research before dealing with any type of investment.
The Easy Loot Play:
PLNT CALL $80 Strike 6/19 @ $55
Want to play it safer?
Add a month of time to this play by grabbing the Jul 17th contract.
DotcomJack | Direct message me for any support or guidance!
PLANET FITNESS 1D RANGE TRADESRanges are repeatable trading chart patterns.
Ranges are consolidation chart patterns that can breakout either direction.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
PLNT support foundPlanet fitness seems to have found support at the $56.80 level which acted as resistance in late 2018 and then as support in early 2019 once that level was broke. I'd look for a long-term long position into 2020.
PLNT Buy Opportunity Planet Fitness has had a strong uptrend above the 180 EMA throughout the year. Has a strong chance of reaching $82 within one week for a 5% return. Planet Fitness will reach over $100 for a long term hold.
1D PLANET FITNESS BUY ON PULLBACKDay chart shows
1w support level
1w trendline
Day bearish pullback bars
Pullback Buy zone
15m chart shows
1w trendline buy limit @ 69.00
1w support level buy limit @ 68.00
