Some of you we're understandably messaging me throughout the day today. I think I was able to respond to most, but it was a busy day at work and may have missed some. If I missed your message or comment, please read todays post and if it doesn't answer your questions let me know. This post will be kind of short though because I work the next two days as well.
In short, I am of the mindset we need OMH. The reason for this, is due to structure and MACD together. Don't get me wrong, structure is 100% more important than MACD or fibs. However, when they come together it's always nice. On the 3min chart it appears we need another high with MACD NOT making a new high while on the 15min chart and above we already have neg div. If you compare this move up, to the primary B wave prior, they are eerily similar. I think this move up concludes in the $271-$273 area; between the yellow 1.0 and the red 1.618. These fibs are from two different places/waves yet point to the same end point.
This move up from the $234.58 bottom has been entirely corrective though. I mean just look at all the overlap on the way up. It would be really hard to start a wave 3 on that kind of price action. Nonetheless, we ALL need to be prepared for that scenario. No one has been able to convince me we won't head to ALL time new highs with-in the next couple years so far(many have tried). Not that I'm unwilling to change, I just have a count that I've poured over again and again and come to the same conclusion every time.
My plan for tomorrow:
As I said I work tomorrow so I can't really watch that well if I am busy. If I am able to when structure dictates, I plan on adding another 5 puts or so when price is in my box. I still currently have the 15 puts I bought but if I am right, I will make that all back very very soon plus some. If I am able to add more to my position then awesome, if not, oh well.
One thing I want to add, trade to your own risk tolerance AND portfolio size. These puts might wreck Somone's account or not even be worth others time. The important thing is not to overextend yourselves. If I lose this ENITRE position, it will suck, but barely put a dent in my account. This is what makes it easier for me to hold through this rise up that was unexpected. Food for thought.
Bonam Fortunam,
--Tyler
In short, I am of the mindset we need OMH. The reason for this, is due to structure and MACD together. Don't get me wrong, structure is 100% more important than MACD or fibs. However, when they come together it's always nice. On the 3min chart it appears we need another high with MACD NOT making a new high while on the 15min chart and above we already have neg div. If you compare this move up, to the primary B wave prior, they are eerily similar. I think this move up concludes in the $271-$273 area; between the yellow 1.0 and the red 1.618. These fibs are from two different places/waves yet point to the same end point.
This move up from the $234.58 bottom has been entirely corrective though. I mean just look at all the overlap on the way up. It would be really hard to start a wave 3 on that kind of price action. Nonetheless, we ALL need to be prepared for that scenario. No one has been able to convince me we won't head to ALL time new highs with-in the next couple years so far(many have tried). Not that I'm unwilling to change, I just have a count that I've poured over again and again and come to the same conclusion every time.
My plan for tomorrow:
As I said I work tomorrow so I can't really watch that well if I am busy. If I am able to when structure dictates, I plan on adding another 5 puts or so when price is in my box. I still currently have the 15 puts I bought but if I am right, I will make that all back very very soon plus some. If I am able to add more to my position then awesome, if not, oh well.
One thing I want to add, trade to your own risk tolerance AND portfolio size. These puts might wreck Somone's account or not even be worth others time. The important thing is not to overextend yourselves. If I lose this ENITRE position, it will suck, but barely put a dent in my account. This is what makes it easier for me to hold through this rise up that was unexpected. Food for thought.
Bonam Fortunam,
--Tyler
Comentário:
I'm tired as hell, was busy at work, and have to be back tomorrow for my third shift. I don't think I would be able to give a good analysis right now. In the absence of OMH into my target box we start to head lower towards our wave 3 target. Tomorrow night I will drink energy drinks or coffee or do whatever and make a new post as I don't work friday
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
