$XOP - Considering Going Short
In w/ Back Ratio Spread on this.
What do I have to lose. If It moves to retest $40. I will make $$$, If it goes ape **** and runs away to $60 I will keep the tiny $ credit from the spread.
As long as it doesnt chop in a range. I make $, whether it is $ or $$$$ is a waiting game.
What do I have to lose. If It moves to retest $40. I will make $$$, If it goes ape **** and runs away to $60 I will keep the tiny $ credit from the spread.
As long as it doesnt chop in a range. I make $, whether it is $ or $$$$ is a waiting game.
Commento:
Infact two of my Pullback Strategies Setting up
Commento:
Will be looking for a Roll on this position. The Valley of Loss is deepening as I am getting closer to expiration. Its better to roll with a breakeven or tiny loss, just my decision.
Commento:
If you did the backspread - Exit now. You should not be losing $$1..... Mine is about to expire this week. No need to expose to the Risk Valley, even if it is one day.
Uday C Santhakumar
If you havent gotten in with a Back Ratio, Here is an intraday trade setting up. Wait for the 15 min candle to form. And then, Watch for an entry based on your timeframe entry.