WFC to Long, Double bottom pattern

2020年4月22日

Existing Condition:
1. in 60 min, down trendline break by breakaway Gap (G1, G2)
2. Double bottom reversal pattern

Entry below 27.5
Stop below the bottom: 26
Target1: 33; risk/reward=1:3
Target2: 37, risk/reward=1:6

Predict: Runway Gap (G3);

This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.

2020年4月22日

交易开始

In my option trade, I bought OCT C30/40 (Delta 0.31), limit 2.00;
Sell P22.5 (Delta -0.25) Limit 2.33;
Total got credit 0.33 per share, to simulate 56 shares stock.
Option stop 23.

If stock price stays above 22.5, at least win 0.33;

2020年4月22日

注释

the market (SPY) might be in side way consolidation for a while, which will form a daily wedge pattern between 240 and 290; (See my 4/9/2020 SPY idea)
Right now, IV is still high, buying Call/put is hard to catch a big range in any direction. Buying call Butterfly and selling put at very low price to accumulate long term position might be a better strategy.

2020年5月26日

交易开始

BuyToClose P22.5, Limit 1.69, win 0.67;