SPDR Select Sector Fund - Technology
Short
Updated

4hr bat pattern, looking for retrace to c leg

117
4hr chart I see a bat type pattern, and im looking for a retrace to C leg of this pattern . Money flow has peaked on the 4hr time frame and there is a clear rejection from D leg, and currently (B) leg of this bat pattern is acting as resistances. I have puts 30 days out at the $138 strike
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snapshot
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there is a potential cypher on the 30min chart, but look where B leg is at. $138, which is why I bought the puts at that strike price. snapshot
Trade active
I actually closed this position before closing bell.. at near break even. I will try to run a strangle, or iron collar for this next set up... rise to $138, and short the rejection on confirmation at $138.. I also like TECL in this next set up , its the technology 3x leverage bull etf
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long aaple shares, dont be short here snapshot
Trade closed manually
xlk went to $138 as expected, and shown above. You can close that trade if you had calls at $138 . long Apple shares at this level.. and XLK to move to 140-142 range over next 3 months easily

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