FFIV setting up for a fall
Updated
Indicators have been trending down but price action has not followed. Inside period on weekly chart must be watched. A break to downside could ignite the powder keg. Earning next week also need to be watched. A small miss could also accelerate the downside movement.
Long is not advisable until after earnings, Short is a good risk reward ratio now. I've purchased Nov 20 OTM Put contracts for maximum leverage with min risk.
Long is not advisable until after earnings, Short is a good risk reward ratio now. I've purchased Nov 20 OTM Put contracts for maximum leverage with min risk.
Trade closed: target reached
Short position closed for 220% gain.
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