The aggressive repair method paid off and I managed to turn a losing trade into a winning trade.
- Position was opened @ point 1 (refer the screenshot below) with the view that SPY would drop after bearish candlesticks was formed & strong support was identified @ around 195.
- SPY continued to move up and the earlier view was proven wrong! Sell leg was closed to allow the Buy leg to run (aggressive repair method) at point 2.
- Buy leg was closed after 2 days at point #3.
Profit = $13 (($1.92-$3.84+$2.05) *100) per contract in 16 days.
Profit % = +4.2% ($27/$308 * 100%) in 16 days.
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