ULTA Option Call
Updated
Taking Ulta on a debit spread 392.5 - 395.0 Expiration date 12/6
-Daily chart had a break and re/test of an ascending triangle testing the daily 50ema and Fib levels.
-Lower time frames were also in an ascending triangle and I took the trade at the bottom of the trend line paying the break out.
-More so playing the patterns here, price is not really trending but there are indications price can be moving up rather than down.
-Daily chart had a break and re/test of an ascending triangle testing the daily 50ema and Fib levels.
-Lower time frames were also in an ascending triangle and I took the trade at the bottom of the trend line paying the break out.
-More so playing the patterns here, price is not really trending but there are indications price can be moving up rather than down.
Note
Thank you Warren Buffet. lol. Dude took out most of his Ulta stock today so we seen a -3.5% drop. Still in the trade as of now. Trade active
Out of this trade, wanted to see if we could get a quick recovery but did not. Ultimately I was playing the ascending triangle break which did not happen so the trade was a bust. Trade closed: stop reached
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