Volume Spike Reversal Points After Retracement


#1

Darrell,

I was hoping you could shed some light on how to determine take profit/go short price entry point after the bounce off the deviation level/volume spike. To be specific, when you buy the bounce off of a deviation level/volume spike, how do you determine when to cover and then go short for the magnet trade?

Thanks


#2

I usually done need to cover the premium collection side unless the strike is hit. It can expire before the magnet side does so both can profit. I usually do pc or double binaries off the dev spike reversal.

On the magnet i do them in the morning and evening usually. Also on magnets you can do them at any point not just deviations. In fa t i prefer not to do them at deviations as I expect flat to reversals off deviations hence the vspike reversal trade