SPY - EW: Main Count | Finishing W-5 of W- C of Yellow Wave A

10 Ağu 2022

After Reviewing my count over and over, I see two variations this could play out. We could have finished wave 5 of wave C of wave A at 417.55 mark OR we could have come down on wave 4 and pushing towards wave 5. This is due to adjusted my Yellow wave 4 - a,b,c correction to a flat. Rule of alternation.

If you followed my Call, i cashed out at 1.73 from .57 entry with my stop loss set at .45.

Currently I'm hedged because of potential wave 5. I have 400 put 8/19 at .28 and 417 call 8/10 @ .54 and 8/12 @ 1.34. If we move towards 415, I will stop out of my puts (take whatever profit if any, took at 417) and double up my calls for 8/12 and see what we do 8/10 for those calls. -_-

Area's I'm watching on this count:
Upside: 414, 414.88, 416.14, 417, 417.74
Downside: 410, 409, 407, 406, 405

Good Luck Traders.

10 Ağu 2022

Not

Making correction - 400 put for 8/12 at .28 400 put for 8/19 1.61