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
Comment:
Eyeing .CVNA230421P9.5 @ ~1.0
Trade active:
BOT CVNA230421P9.5 @ 0.97
Scaled out 25% @ 1.25
Next trim when CVNA <= 8.50
Stop is BE
Scaled out 25% @ 1.25
Next trim when CVNA <= 8.50
Stop is BE
Comment:
Currently 1.34
Trade active:
If I get stopped out and contract doesn't go < 0.8 and chart looks okay, I'm re-entering
Trade active:
Got stopped BE, but re-entered CVNA230421P9.5 @ 1.0 and added back trim
SL = 0.8
Trim planned at 1.3
SL = 0.8
Trim planned at 1.3