SQ at a major trendline resistance area from the ATH. People jumped on board short yesterday as you can see the increase in volume and a bearish looking candle.
My plan is take the break of that bearish candle of yesterday with a target of $86 area with March $75 calls stoplimit $5.70 with a stop at $4.50-.60. Not risking more than $250.
As always let price discovery be your guide :-).
My plan is take the break of that bearish candle of yesterday with a target of $86 area with March $75 calls stoplimit $5.70 with a stop at $4.50-.60. Not risking more than $250.
As always let price discovery be your guide :-).
Trade active:
Filled.
Comment:
Don't like that daily candle that just came in today. A move above today's high could squeeze above $78 into the $80+ range. Let's see what happens the rest of the week.
Comment:
Here's my new plan on this SQ trade:
Trade closed: stop reached:
Stopped out on this trade. No momentum.