A winning trade...lessons learned

During the week the 380 level had proven to be fairly resilient however with our early warning triggers indicating a potential move to the upside and support holding we could see that a larger move was on the cards. We received our initial "start building" trigger around 10:30am on 1 July and despite the choppy price action, taking early steps to build a trade to take out the 380 level could start. Some traders were using 0DTE options and some were using 15 July expirations. Each trader / user follows their own strategy. I am a big believer in combining triggers and strategies as there is no one size fits all in trading and each trader is different. The downward sloping trend line COMBINED with our custom levels and oscillators provides the perfect combination to "see" when a move will happen. The break above the trend line combined with the LONG trigger and the triangles gave us the triple confirmation of the move and our levels provided the take profit area - just above the 380 level.

Overall, a great trade however patience and volatility tolerance was key. Oversizing on the first trigger would have chopped you up on 0DTE options so selecting the appropriate expiration and strike / delta would have kept you safe. In choppy markets, greed kills so always wait for confirmation of a move and then trade.

Safe trading to all!