CZR Trade on Oct 9, 2020 12:15 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: Daily
• Earnings Date: 11/5
• Potential Profit: $42
• Potential Loss: $108

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. Price action is in a pattern of consolidation below its recent highs. TTM is also in a squeeze on this setup. Price action entered the buy zone (between the 21 EMA and lower BB). The PCS profit level is in line with the lower BB.

Reason For Exit:

• Price action held above our profit target and the PCS expired worthless as I collected 100% of the premium.

Recap:

• The setup was correct as price action was in a pattern of consolidation below its recent highs. There was also a TTM squeeze on the daily. PCS profit level was in line with the lower BB. The PCS expired worthless and I collected 100% of the premium. Nice trade overall.