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 WYNN would drop after few bearish candlesticks were formed around $80.
- WYNN 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 3 days at point #3.
Profit = $27 (($1.92-$7.25+$5.60) *100) per contract in 10 days.
Profit % = +8.8% ($27/$308 * 100%) in 10 days.
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