Weekly, Wedge breakout + retest
Long 4.0
Stop 3.0
Target 7.5, 12
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
For non-Pro option traders, better begin from buying ITM options and keep 90+ days, Selling OTM and less than 60 days.
I will try some samples to test my chart reading and OP strategy:
"Buy in the money (ITM) calls in daily/weekly uptrend, and keep 400 days. "
Related trades:
CAN price 1.6 11/19/2024
Buy Jan2026 C1 Limit 1.0; C1 has 0.6 (ITM).
OPK price 1.6 11/20/2024
Buy Jan2026 C1 Limit 0.65x2; C1 has 0.6 (ITM).
POET price 3.9 11/20/2024
Buy Jan2026 C3 Limit 1.05; C3 has 0.9 (ITM).
ACHR price 5.06 11/20/2024
Buy Jan2026 C3.5/10 Limit 1.6; C3.5 has 1.56 (ITM).
RGTI price 1.35 11/20/2024
Buy Jan2026 C1/4 Limit 0.5x2; C1 has 0.35 (ITM).