4F trade ideas
Elliott wave correction wave on Ford?I have recently been learning more about the elliot wave theory - would love to hear some criticism/critique on this ford prediction. Looks to be a a zigzag corrective wave to me (5-3-5) that is developing. (I left out some of the smaller numbers on the zigzag)
Thanks!
OPENING: FORD DECEMBER/AUGUST 4/7 LONG CALL DIAGONAL... for a 2.55/contract debit.
Metrics:
Max Loss on Fill: $255
Max Profit on Fill/ROC% at Max: $45 (17.6% at Max)
Break Even: 6.55
Debit Paid to Spread Width Ratio: 85%
Delta/Theta: 47.07/.53
Notes: A small, bullish assumption trade in Ford in one of my favorite synthetic covered call setups. The debit paid to spread width ratio isn't what I generally like to see out of these, with 75% or less being ideal, but part of that has to do with the shorter duration of the front month (31 days 'til expiry) than I would ordinarily go, so I'm fine with that. As with a covered call, look to roll out the call side on approaching worthless with max being realized on a finish above your short call strike. The take profit is subjective, but I usually like to start out with a take profit at max (here, 3.00 -- the width of the diagonal) and then reduce that target with credits received on roll of the short call (e.g., if you receive a .25 credit on roll, reduce your take profit to 2.75).
F daily analysis Hi friends
the daily chart of this market shows that it will experience an uptrend but also it is better to be vigilant of the change of this market towards the opposite direction
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Ford, Cup and Handle Decision PointAs I pointed out at the beginning of July, Ford is forming a bullish cup and handle pattern with a key decision point at ~$7.
That decision point is now here. Are we headed back up to $9 and beyond?
Ford wave 5 Looks like Wave 5 has begun and is close to ending at this point with an expanding ending diagonal. Not much room for me to be bullish at this time until after the correction for this impulse.
Ford MTR $FHolding above $6.91 will strength the $F. I would get in above $6.91
12 months Consensus Price Target: $7.76
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Please don't trade according to the ideas, rely on your own knowledge.
Thx
$f Ford is Robinhoods new BFFLocal Fibonacci Golden pocket at $7.00 has held as resistance.
Possible trade opportunity to the major Fib GP at $7.50.
One of the most active stocks on Robinhood, thus the volume improvement.
