Here is another example of the standard technique I use. I am using Memory resistance (and other bearish signals in this case) to take a bearish trade using short call vertical position.
In the last weekend market roundup, I had analyzed NKE as a potential 360 short opportunity. The video is available on my YouTube channel https://www.youtube.com/c/TradingProfitably
Here is a recap of what I saw at that time (as of Friday close 20th Sep 2019).
1) The industry was weakening. That is true today also (today's industry scorecard attached here - as of ~11:20 AM EST).
2) The stock was overvalued with negative and decreasing quarterly earnings growth (that is true today, too).
3) The stock gave a bearish Flow candle in the daily chart while the price was coming down with lower-high and at the upper end of a wide sideways-range.
How did I trade NKE?
A) I was asleep in Thailand (opposite to the USA timezone) when Friday's market closed. I could not analyze and take any short at that time.
B) On Monday I saw NKE was going up. I waited, and as price hit the daily Memory resistance, I took a bearish position using Short Call Vertical. I put the short leg just outside the Memory resistance (at 88).