Bearish H&S in USB

Yet another H&S structure (with smaller fractal in red noticed a while ago). Now the structure is confirmed by a rising wedge which may be already complete or in its final stages. Tomorrow USB will report earnings. This could make the price swing and complete the wedge or break down from here. Either way, I will be buying puts today. This chart made me reconsider BBT trade where I saw an alternative interpretation in line with my bearish stance on USB and the market in general.

Zlecenie aktywne:

Yesterday's jump on earning completed the correction. I have bought some put options and today I will be selling my BBT holdings.

Zlecenie aktywne:

Closed my puts with a small profit to wait until the price corrects as described

Will buy October puts on this correction (if the broader market also confirms the end of the bounce)