These are real trades in real time with real money on the line. My goal is to share my real trading life. How I'm entering, managing, and exiting real swing trades. Sharing tactics, trade-offs, and emotions. A "swing trade" is a multi-day trade. I hope to educate traders who started their journey after I did. I also hope to meet some new friends.
Tuesday, January 23, 2018
ULTA looking bearish Update 1
We closed the day below the channel, so now this looks like a really good entry. I jumped in too early and got the Feb 230/210 Put Spread for $5.41 this morning at 9:32am.
By the way, another pattern I saw but forgot to include in my previous post is a Head & Shoulders. The neckline, which is a little above the bottom of the channel, was broken today.
If things go well we might hit the target around 219 this week, if not tomorrow. I want to be out before the upcoming Earnings Report scheduled for 3/1/18 after market close. I expect we'll be out long before then.
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