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
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.