Not going to spend a bunch of time on my post tonight as I have been very clear on my expectations. We hit the 0.382 as I said, and at the least it slowed us down. Nothing has changed from my last comment though when I said we need a 3 wave retrace next. We could get OML judging by the MACD but structurally the count looks complete. Seems as of now that would coincide with what the NASDAQ needs and it opened green so far tonight. On the chart I have a box that is pretty big because of the nature of wave 2's. They can be very unpredictable, therefore hard to trade. Structure will be your best guide here.
Once we hit into my box, I plan on buying at least 10-15 Puts. Right now, I am eyeing the contracts with exp dates of 11/3 & 11/10 with a strike of $225. If y'all see or know of a better contract/strategy to maximize profits I'm all ears. I will state what exp date I use when I place a trade update, but the strike will stay at $225. If this count is correct, we will hit right around that strike price and then bounce back for our wave 4 of (3).
As I said we could get OML next but ultimately, we need a wave 2 before wave 3 of (3). This is marked by the turquoise numbers. Good Luck everyone!
Bonam Fortunam,
--Tyler
Once we hit into my box, I plan on buying at least 10-15 Puts. Right now, I am eyeing the contracts with exp dates of 11/3 & 11/10 with a strike of $225. If y'all see or know of a better contract/strategy to maximize profits I'm all ears. I will state what exp date I use when I place a trade update, but the strike will stay at $225. If this count is correct, we will hit right around that strike price and then bounce back for our wave 4 of (3).
As I said we could get OML next but ultimately, we need a wave 2 before wave 3 of (3). This is marked by the turquoise numbers. Good Luck everyone!
Bonam Fortunam,
--Tyler
Comment:
We got the OML in a 5 wave move. Updated the retracement fibs and await the retrace as of now. Don't be impatient and wait for the retrace.
Comment:
We're on pos. Div. Right now
Comment:
We have made some progress today but this retrace still isn't over imo. It looks like we are in either c of C of 2 or still in b with c yet to come. This reason is why it is so important to wait on the sidelines. It's either that or get chopped to death. Ultimately I feel this retrace ends in my box.
Comment:
Comment:
Fell asleep last night before I could do my TA. I am still waiting for us to move into my target box. I think that happens today
Comment:
New low on MACD on 3min chart. Could mean the retrace is over. As of now I am still a bystander but could become a participant very soon. Again, I'm waiting to enter with puts to short via options
Comment:
Comment:
Hit .01cents from the .382 of wave 3 and bounced down. This is an indication we were in a wave 4 and the wave 1 structure hadn't yet completed. If that is the case we need a micro 4 & 5 to finish out the wave 5 of 1. I know I know it's starting to get complicated a little, but this is what it is like in the micros. You have to get in the trenches and shift through all the bullshit to find the right path. This is the exact reason i am on the sidelines and have encouraged you to be as well. When unsure of the count, get flat. Let's hope we get some clarity soon.
Comment:
Structure wise this could still be considered a micro 4 as no overlap but doubtful. This could technically be a WXY for wave 2 or a couple other things. Glad I am an observer for now.
Comment:
This is the wxy angle I am watching.
Comment:
Sorry no new post but I have been busy, and it would just be more of "I expect us to rise and make a new high". That should complete this wave 2. My plan as of now is to buy some puts at today's high or close to it
Comment:
Looking at the Nov 24th $200 puts right now. They are around $2.40 currently and should drop after a retrace however slight
Comment:
Look for a reaction off the 0.618
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
