VERY STRONG CONFIDENCE IN THE BUY CALL AS THE STOCK HAS BEEN TAKING SUPPORT ON THE TRENDLINE ...
THERE IS ALSO A FLAG FORMATION ...ALONG WITH SUPPORT ZONE NEARBY.... THE VOLUMES HAVE BEEN DECREASING WITH THE PRICE REDUCTION SUGGESTING MANY ARE NOT WANTING TO SHORT. THE PREMIUMS FOR CALLS TOO ARE VERY LOW...SO GOOD STRATEGY TO BUY NAKED CALL WITH A STOPLOSS AS INDICATED FOR THE SHOWN TARGET LEVELS
THERE IS ALSO A FLAG FORMATION ...ALONG WITH SUPPORT ZONE NEARBY.... THE VOLUMES HAVE BEEN DECREASING WITH THE PRICE REDUCTION SUGGESTING MANY ARE NOT WANTING TO SHORT. THE PREMIUMS FOR CALLS TOO ARE VERY LOW...SO GOOD STRATEGY TO BUY NAKED CALL WITH A STOPLOSS AS INDICATED FOR THE SHOWN TARGET LEVELS
Trade active:
there is associated risk also, as elliot wave just made a 5th point. if that is the case then once resistance is broken we may see further downside....
Trade closed manually:
my stoploss broken....trading positions closed for a while
