Premarket plan: Following all major trends -4H, 1H & 30m timeframes-, I can see a drop on the price today to the $171.00 key level. At the market open I can see a drop on the price to the same $171.00 key level and then a breakout over the $172.00 4H key level. On the bullish side I'd wait a drop to the $171.00 key level, that's where I'd take my first entry with a call option, with a stop-loss at the $170.85 breakdown, and a take profit at the $173.00. For the bear side, if at the market open I see a rise on the price to the $172.50 level, where I can see a strong resistance in the 4H timeframe, that's where I'd take my entry with a put option, with a stop-loss at $172.65 breakout, and a take profit at the $171.00 level. On the bull side I have a 13:1 risk:reward ratio, and for the bear side I have a 10:1. If the market moves on my direction I'd take my second entry at the daily open price breakdown/breakout.
Second trade plan: If my first trade doesn't workout and I get out with my stop-loss. I'd take a second entry at the next level of $0.50, placing my stop-loss $0.15 cents below the level of my entry.
Stop-loss: $171.00
Entry level: $171.15
Take profit level: $173.00 (Non-taken)
Second entry: None.
Trail-stop: None.
Plan respected? Yes.
What did I do different from my premarket plan? Nothing.
If I did not followed my plan, what could've or should've I done differently on this trade? Nothing.
Comments: Plan and strategy respected. I was very confident on my analysis about the trend of $AAPL today, but my risk have to be managed at all costs. And more after a pretty important lost on my last trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-12-21 10:30:43 | AAPL31 12 170 CALL | buy | $4.900 | long |
2021-12-21 10:35:19 | AAPL31 12 170 CALL | sell | $4.760 | 0 |
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