An uptrend is the upward price movement of a financial asset, characterized by price making higher highs and higher lows. This means that after a bullish run, the lows following a pullback will still be near or above the highs that were seen earlier in the trend. The uptrend is regarded intact as long as price continues to make higher highs (during the run) and higher lows (during the pullback). Some traders choose to trade solely during uptrends. These type of long-trend traders employ a variety of tactics to capitalize on the price's proclivity to make higher highs and lower lows. They enter trades earlier as price begins the raise; they manage their position(s) during the bullish run by adjusting their stops (in case price suddenly reverses); they exit and take profit (fully or partially) as price loses strength and starts to reverse direction.
The market has been range bound for the last few weeks with volatility on the decline, and earnings all over the place. So where to go to look for a trade? Nike has already had Earnings and is near a low of the year, so seems like a good option. As a contrarian that can mean only one thing to me: I have to make a trade with the assumption it will go up from here over the next 45ish days. We will do that by making a Long Call Vertical trade to bet that it starts to head up over the next couple months. For more on my trading and how to join me in real time, see below. Watch the video to get the details. Kal Trading Risk Disclaimer All the information shared in this video is provided for educational purposes only. Any trades placed upon reliance of SharperTrades.com are taken at your own risk for your own account. Past performance is no guarantee. While there is great potential for reward trading stocks, commodities, options and forex, there is also substantial risk of loss. All tr