This is an example of a long option trade on Silver. It is important to note that this is a weekly option that starts trading on Sunday night.
This amounted to about +40% and it was closed in less than a day.
I personally do not like that this platform doesn’t have the chart of the option itself. What is shown is the chart of Silver, the underlying instrument.
This trade yielded 189 points. There was a Fibonacci retracement drawn on a longer term time frame.
A short position was taken in anticipation of a trend line break. As happens frequently, price pushed higher after the trendline break, resulting in some sort of false breakout.
At a certain point while the trade was on, I placed a breakeven stop loss. Then I moved it to about +30 points. Then I exited manually. If you zoom out to a 5 minute chart, you’ll notice that price bounced around the area where there was a prior swing high.
After taking a few trades that were stopped out around breakeven, I took another short trade that hit the take profit level.
Charts101 Trading 