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F5 Networks, Inc (FFIV): After Action Review – Short Vertical PUT Spread

Not every trade works out as I want it to be.

In the case of FFIV, I have a SHORT Vertical PUT spread the day it gaps down.

My view at that time is:

  • Gap down with bearish indication; price below kumo
  • Price will find it hard to go above resistance

Unfortunately, the price action do not work out as I want it to be.

The price break out of resistance 3 days back on Feb 2 and I was out when it break the resistance.

The next resistance for FFIV is around $124. As the price is inside the kumo, which represents a trendless state, I would prefer to step aside to monitor its price movement. That is also where the Kijun sen is now.

If the price breaks without convincing volume, be prepared for a possible sharp pullback.

By iam802

Trend trading with Ichimoku