Bullish Echo Tade for DKNG to $67
I have a bullish setup that I call an echo trade. The entry signaled on Friday, I was late posting this chart, but so far the price was flat from my entry.
I traded the setup with straight $65 APR calls and some $65/75 call debit spreads.
The red flag / support zone is marked, a sustained move of price to this zone may indicate the trade setup is busted. I will re-evaluate if we get there.
There is resistance at the 61.50 area that we were testing Friday and needs to be cleared. The target is 67 and the stretch goal is $69.
These trades typically last 3-10 days (average of 5) and may last as long as 3-5 weeks.
WARNING: DKNG earnings are reported to be 2/26 before the open.
The echo trade pattern is a trend-pullback-continuation pattern.
I traded the setup with straight $65 APR calls and some $65/75 call debit spreads.
The red flag / support zone is marked, a sustained move of price to this zone may indicate the trade setup is busted. I will re-evaluate if we get there.
There is resistance at the 61.50 area that we were testing Friday and needs to be cleared. The target is 67 and the stretch goal is $69.
These trades typically last 3-10 days (average of 5) and may last as long as 3-5 weeks.
WARNING: DKNG earnings are reported to be 2/26 before the open.
The echo trade pattern is a trend-pullback-continuation pattern.
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