This past week was like other weeks with the movement of the market and specifically with Alphabet (GOOGL). Tuesday it opened higher and went down just to finish the day near where it started.
Wednesday looked like it was going to be a similar day at start. Sometimes the prior days movement continues into the next day. Wednesday's open was higher, it moved up, retested the open low and shot up higher. From what I have seen is it move up to a 3rd top before changing direction. It was clear that it would not get past 1092. From that point you should exit all Call options and switch to Put options. Take a look at the chart below and I will continue with Thursday which is on the same chart.
came close to Thursday's close at 1071. It was nearly free fall for the rest of the day. See the chart to the side.
I started writing this on Monday. I will break down this week's charts next.
Wednesday looked like it was going to be a similar day at start. Sometimes the prior days movement continues into the next day. Wednesday's open was higher, it moved up, retested the open low and shot up higher. From what I have seen is it move up to a 3rd top before changing direction. It was clear that it would not get past 1092. From that point you should exit all Call options and switch to Put options. Take a look at the chart below and I will continue with Thursday which is on the same chart.
Thursday was interesting because Alphabet moved up, but failed to get past 1090 which is where it peaked on Wednesday. That is a sign to buy a Put option and sell near it's bottom when it was at 1050.
Friday Alphabet went up after testing the open and moved up until it
I started writing this on Monday. I will break down this week's charts next.
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