holeyprofit

Long COIN 180 puts for June

Short
holeyprofit Aggiornato   
BATS:COIN   Coinbase Global
Continuation of the previous COIN analysis.

More bearish patterns have formed since the time of the previous analysis.

We now have a head and shoulders pattern. Head and shoulders usually go to at least 1.61 extensions of the head. This is a bit under 180 in COIN, so I am buying puts for that strike.
Commento:
I think this may have a bit of a rally from this area but if we do I'm going to short call spreads into it.

Stops on the setup are 234.
Trade attivo:
Calls sold into rally.

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