Trade Idea: Home Depot Inc NYSE: HD​

We have a clearly defined pivot level at the 10 Day Simple Moving Average.

Above the pivot we want to be Long using out target levels ( T1-T3 ) to scale out.

Below the pivot we want to be Short using out target levels ( S1-S3 ) to scale out.

Pivot 274.18 

T1 276.87     T2 279.39     T3 282 

S1 272.95     S2 271.26     S3 268.98 S4 267.13

Implied move $5

Trade: Equity

Or

 Use Next weeks Options

Long 280c

Short 270p

Current Delta on both are .35

We will use roughly a $2 stop on the stock price ( depending on entry ) that would equal roughly .70 a contract.

EDGE: Slingshot squeeze on the hourly

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