I see a possible Harmonic Cypher Pattern to 555,50 (FTI 15/60 minute chart) before we go down again into 7 August (530± expected).
Hope everybody can learn from these examples. Somehow, 3 August was the time to cash and take 300 euro profit. I prefer daytrading over swing trading with options. It is way easier with hard rules and hard signals. :D
Whatever may happen now is not relevant anymore. The trade is over... Don't let fear and bias (I am short so it has to go down) rule your life. Taking a loss is hard but shows maturity and keeps your grounded. ;)
The SHS is not accurately drawn out. However, I did measure the target and it gives us 544±. The funny thing is: the potential Cypher pattern gives us the same 544± (78,6% retracement)!
The put option (AX2 AUG 558) is little in the red, but I do not give up yet. I go for it and else, well, I at least tried! :)
Well, we could have seen a bottom today before UP UP UP, but not the bottom that I thought it would be. As I have written a few days back, the bottom I was looking for seems to be August 3 (clear in the FTI, not totally satisfied in the AEX). That is what I am thinking right now but it remains guessing until the market shows its real hand next week.
I am okay no matter what happens next. I continue to learn and I know what I am supposed to do: day trading with my system and only swing trading on the longer term analysis for some extra fun. :)
For now I put the stoploss @ 561 FTI. Still have some time to think if I take it over the weekend.
Have a nice weekend!
I am in for the swing and will stay in the position, but this is risky, just so you know... I trade my option positions different (less hard money management) than my day trading (hard money management rules).