In my last FB post I showed a 30min chart, with a possible CD leg higher, as long as it stays above 92.49.
With that in mind, I look on shorter timeframes for bullish PRZ’s.
Today such an opportunity presented itself between +/- 10:40 and 11AM, where it bounced out of a Bullish PRZ of an AB=CD pattern, which was also inline with the 88.6%XA. Call buying dominated at the low. Took 93 calls, and sold between 30 to 50% profit.
At the end of the day this same level got tested again, and if you follow @Gr8estbot , you would have noticed some large Call buying into the close. On this alert I got a small position in 93 calls, to hold overnight.
With two more trading days to go on the NFLX 115-120-125 butterfly, this looks like it’s going bust, with NFLX trading at +/- 107 AH. But you never know. earnings always a crap-shoot, that’s why I try and look for “low-cost” trades.
We’ll see tomorrow.