PSX Trade on Feb 20, 2020 10:41 from GH0ST_0P: Tradervue User Stock Trades.

27 MAR 90C

I like this one for a number of reasons. Chief among them is the big green pin candle forming on the weekly! Not sure if this is the bottom, but if it is, it has a very attractive Risk / Reward

Method

• RSI Oversold (14)

• Bollinger Band Pierced (1/31-2/3)

• Reversal pin candle on daily and weekly of $97 support

• 5wk+ Expiry

• Risk/ Reward = 4-5R

Money Management

Risked 5%

Exit Strategy

There is some resistance at the 200dma which should coincide w/ the top of the BB. I'm looking for more of a stronger move towards resistance at $103, will wait and see.

UPDATE 2/28

This wasn't a terrible trade. In hindsight though, the $80 level was the support to buy off of and I should have waited a bit on this one. Of course now I know the $80 lvl would not have worked out either, but that was the lesson. Jumped the gun on this trade.