EA Trade on Jun 3, 2020 14:29 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below ATH.
• TTM Squeeze: Daily
• Earnings Date: 8/4-

Reason For Entry:

• Playing the daily chart. EA has been in a nice uptrend honoring the 21ema. EA made a strong pull-back to the 21ema (confirmed support area) and I executed a Put Credit Spread risking 1% of portfolio. I am betting that price will close over $119 by expiration on 6/19. Watching for EA to consolidate and continue its uptrend to new ATHs.

Reason For Exit:

• Price action moved to new highs and I closed the Put Credit Spread for a nice 50% win.

Recap:

• The pattern was correct as price had been historically honoring the 21ema (light blue line) and price action retraced to that support level. I executed a Put Credit Spread risking 1% of my portfolio and betting that the price action would stay above $119 by expiration. The goal was to close the trade for a +50% win. The exit was correct as price action worked its way to new highs on the chart which lined up nicely with my +50% goal. Overall was a nice +50% win.