aso rejection candle at 200 ema

Jul 18

Shorting aso while using the daily candles. It is a little early in the day to be using candle structure but this looks like a good set up so far and will take small risk position. The daily candle has a huge wick above the 200 ema and cant get back above. got 1 put for 55 for september 2024. I will most likely set stop losses to -20% and +100% if i do not have time to watch it closely.

Jul 19

Note

day two of the trade looks good. im in over 50% profit and will set stop losses right above my buying price and take profit around $51. but if the move isnt made within the next week ill just take profits and not let it turn on me if the charts signal a reverse I.E. candle formations or volume strength.