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UNITED STATES STEELUNITED STATES STEELUNITED STATES STEEL

UNITED STATES STEEL

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4USX1 trade ideas

[ X ] United States Steel Corp short call vertical spreadLazy day, lazy trade. My Iron Condor Hunter script indicated a potential iron condor for this instrument for the 12 - 23 range. Let's check for the best setup for this signal. (1) Basic TA to background check After a quick TA I judged it too risky, because it limiting the downside potential correction. The script indicated good ranges in the past 4 years, but now I'm a little bit hesitating about the downside move limit. The script shows me 12$ as secury bottom target in the next 30 days, but the lowest low may be ~10$, based the green trendline (2) Murrey Math levels -1/8 and +1/8 are used for some kind of attempt to catch a trend reversal. -1/8 is an extreme support level during a bearish trend , while +1/8 is an extreme resistance during a bullish tendency. A test of these lines indicates that the current trend is weakening. As a rule, the price doesn’t revers here and starts corrections towards 0/8 and 8/8. After that, the previous trend resumes. On the weekly perfectly fit to my Murrey Math Lines Auto +1/8 script. (3) Daily divergence Divergence on daily chart , without any more comment..... Indicated local correction. Breaked down my custom oscillator => correction validated. CONCLUSION : Modifying the strategy from the originally planned Iron Condor to Vertical Spread. Sell 1 X Apr16' 21 call Buy 1 X Apr16' 23 call Max profit: ...... $80 Max loss: ......... $120 IVR: ................... 18.3 Probability of Profit: 73% Expiry: .............. 45days Strategy: Short call vertical Risk management: I'm closing the trade immediately - if the daily bar closing outside my strikes - and I'm cutting my loss. (no matter what I'm believing)- usually I'm losing mutch less than my max profit in this case. Danger zone starts at 20.28$ Profit management: I'm sending an order at the 50% of max profit, immediately after my position opened - as usually.
NYSE:XShort
by TanukiTrade
3
I love you but it time. Us Steel, its been fun. We had lots of sex in the back of 7Elevens. Enjoyed some cocaine in casio bathrooms. But its time to short you like some Biotech penny stock getting pumped by Cidadel. No hard feelings, its more me than you. But once your divergence shines again. ill call you at 3 in the morning drunk on old english and wreaking of strawberry vape juice. Then ill ride you like the titanic, end prematurely and seaman going in every direction. So thanks for the memories!
NYSE:XShort
by SewellBrokerage
5
X Potential Reversalx Hello traders, this is my first idea published, I hope you enjoy it and get value from it. X recently sold off because of upcoming earnings. X offers a 50% ROI if it makes a full recovery from its current price to its high. Technical Analysis: The Macd and the Rsi indicate that X is oversold And now I am waiting for confirmation of a reversal when it breaks through the trendline and the EMA's crossover I will proceed to place a buy order. Hope you enjoyed this quick analysis!
NYSE:XLong
by UnknownUnicorn11084119