NVTA - Bearish - Monday Morning Idea
NVTA recently formed a double top.
It looks like the pattern formed a bear flag after the double top.
It just broke the consolidation of the bear flag and is continuing down.
Trend just turned bearish on the Weekly view.
To me this indicates I can enter the trend that started, rather than try to get in front of a trend reversal.
If I get on these, I will probably hold options for only a week (put spread or call credit spread).
NVTA options are only available as monthly's.
I will update if I enter position.
Exits
If price goes above $17.93 (white resistance downtrend line)
30% profit or greater
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long BTCUSD, GBTC
It looks like the pattern formed a bear flag after the double top.
It just broke the consolidation of the bear flag and is continuing down.
Trend just turned bearish on the Weekly view.
To me this indicates I can enter the trend that started, rather than try to get in front of a trend reversal.
If I get on these, I will probably hold options for only a week (put spread or call credit spread).
NVTA options are only available as monthly's.
I will update if I enter position.
Exits
If price goes above $17.93 (white resistance downtrend line)
30% profit or greater
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long BTCUSD, GBTC
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.