The blue lines on chart mark the candles that correspond with peaks in RSI and directional movement. Both times previously, price reversed lower after buying was exhausted. One difference is that today RSI is at a peak while the green directional line is lower than yesterday. One possibility is that price may try to move up again tomorrow before retreating lower, but thus far price cannot reclaim 12.
Since puts expiry is 21 May, I bought 10 strike today, a small position, and will hold for a reversal. If tomorrow price goes over today's high I will trim/exit.
Since puts expiry is 21 May, I bought 10 strike today, a small position, and will hold for a reversal. If tomorrow price goes over today's high I will trim/exit.