SPCE forming cup & handle : target $25.50 : trade 21/23 strangle

It looks like SPCE is forming a cup & handle pattern. My target is $25.50 by 11/20, but because SPCE can be volatile, I entered a strategic risk : reward trade $21/23strangle11/20 contracts at 3:15pm. Do your own due diligence, your risk is 100% your responsibility. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...

*3x lucky 7s of trading 101*

7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue & Earnings
Debt / Cash
Book value, assets

7 Common mistakes:
+5% portfolio trades
Bad risk management
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors

7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books
Sorted watch-list

Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
www.tradingview.com/u/growerik/

Kommentera:

This week ending 11/20 is monthly options expiry & Q3 earnings completion, so more likely than not, expect some big moves.

Kommentera:

Test flight re-scheduled, thank goodness for the put insurance. lol