Trading Edge 2020 Portfolio -Trade #11- WES - Inverse H+S

Ticker: WES

Position:
~ $7.00 Strike Call (Currently around $0.62/ contract)
~ May 15th expiry
~ Delta = 0.57
~ Risk no more than $300 (4-5 contracts)

Exit/ Profit Targets:
~ Close below the neckline = exit trade (approximately $6.00)
~ Initial target = $8.00
~ Secondary target = $11.00


Rationale:
~ Inverted H+S breakout
~ RSI confirming latest move higher
~ Presence of a gap (stretch target)
~ Moving averages are suggesting (at least near-term) a continued bounce

-TradingEdge

Trade chiuso: obiettivo raggiunto:

Exited WES at $1.85/ Contract

193% Profit