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  • thepepster
    Participant
    Post count: 7
    #12524 |

    Hi all,
    I purchased 1 Feb 29c around the cross of the 8/21 recently along with noting the MACD on the Weekly chart and the confirmation on the Hr chart. I then took a second contract yesterday at the pullback and continuation showing clearly on the Hr chart (and the 15m chart for a looksee). This morning, boy, was I a happy trader. So I took one contract off at more than a double and left one to run placing a breakeven stop. Note how I was ITM at the open. WOW!!! I chose the option by comparing prices and deltas and looking at Magenta for time period. Attached is normal charts and charts to print
    Pepe

    Anonymous
    Inactive
    Post count: 6

    I saw that same set up, but wasnt considering going in until it broke out from just under $25. since the fed was the next morning (today) i chose to be safe and not play it. ARGH!! talk about money over night!! oh well, i am just happy i saw it and if it werent for the looming Fed, i would have gone in.

    TG

    sueZmacD
    Keymaster
    Post count: 219

    Great trade Pepe – perfect!!!

    I was stalking the same setup late in November (cross of the 8 & 21 EMAs) – a continuation long that setup on both the daily and hourly charts.. I took my standard one strike OTM — a slightly different position than yours. Very profitable – as well….

    I know Derek has been covering this ticker for some time – and we’ve had it on both the November and December Opportunity Worksheets here in the Advanced MACD group —-

    Now, no worries if you didn’t take this one —- there are always others…. Just be sure to take the time to review why you didn’t – and make sure you’re checking in on the watch list occasionally…

    Very often you’ll have a solid reason for not taking these set ups — we don’t all see the same things the same way —

    A great way to get the feel for this – is to take them in paper when they setup and see how they play out – this also gives you a chance to work on managing your exits without the stress of real money!!!

    Great example – Pepe —- thank you for sharing!!!!

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