Simple chart here that makes a likely case for a downward directional trade. There are 4 simple moving averages - 10, 20, 50, 200. Yellow arrow mark major tops which also line up with RSI over 70 (orange circles) and directional movement (DMI) peaks.
Directional movement is a less popular volume indicator, but it has saved me many times on a 5m chart from entering a trade at the wrong time. The green line (DI+) indicates buying and red line (DI-) indicates selling. The gray line shows total directional movement for a 7-period setting. This is the important one, as it indicates when movement in one direction (in this case buying) has become extreme so buyers will be exhausted and then selling ensues.
Based on this I suggest 11/4 or 11/18 puts.
Directional movement is a less popular volume indicator, but it has saved me many times on a 5m chart from entering a trade at the wrong time. The green line (DI+) indicates buying and red line (DI-) indicates selling. The gray line shows total directional movement for a 7-period setting. This is the important one, as it indicates when movement in one direction (in this case buying) has become extreme so buyers will be exhausted and then selling ensues.
Based on this I suggest 11/4 or 11/18 puts.
註釋
XOM was 5cents shy of a bearish reversal open. Buying swing puts today for targets 102, 98, lower. RSI ready to turn down. The last time stochastic stayed high for so long, May-Jun '22, price made a nosedive.
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