Evening Update (Early): Have we already Topped?
I guess that's the big question...Have we Topped, or does this rally continue?
Although we end up in the same place, the green b-wave (is the black count) it just supposes we topped already and the ending diagonal will eventually become invalidated. I placed that b-wave there ONLY because we have a full pattern as of now. But not to get ahead of myself so far the ED is playing out nicely so a lot of potentials. Additionally, I broke the red count out of the closet. Although a low probability, it is a valid count.
In this morning's update I stated..."In the 4008-4009 I may open a small long position. I’ll update if I do."
Very soon after I published my morning update I bought, Initially, as a hedge 3 ES contracts at 4008. I updated the morning update post as I moved stops higher and eventually sold all 3 at 4057 for $7,350 in profits on the day. Since my short calls generated just under $12,000 in profits...I didn't want to waste $7k protecting $12k. Therefore I'll restrike higher if I have to as it would seem I have almost 250 points of perceived safety. This puts me at approximately $19,000 in potential profits for February so far. I say potential because my short calls do not expire till end of February.
Tomorrow we have Fed Day. As a reminder my followers have coaxed me into posting a Thought Experiment for Fed Day. Look for that in my morning update tomorrow. Thanks for having me stick my neck out...it's all in good fun.
Sorry this post is early but I have plans this afternoon and won't be in a position to post this evening.
Best to all,
Chris
IMPORTANT NOTE:
SOMETIME BETWEEN MID AND END OF FEBRUARY I WILL ONLY BE POSTING ONCE PER WEEK HERE ON TRADING VIEW. I WILL ONLY BE DOING WEEKEND UPDATES. THE MORNING, EVENING AND SPECIAL UPDATES YOU HAVE RECEIVED IN THE PAST WILL NO LONGER HAPPEN. AS I GET CLOSER TO CHANGING MY POSTING SCHEDULE ON TRADINGVIEW.COM I WILL UPDATE MY FOLLOWERS HERE. CHECK MY PROFILE AREA FOR DETAILS.
Although we end up in the same place, the green b-wave (is the black count) it just supposes we topped already and the ending diagonal will eventually become invalidated. I placed that b-wave there ONLY because we have a full pattern as of now. But not to get ahead of myself so far the ED is playing out nicely so a lot of potentials. Additionally, I broke the red count out of the closet. Although a low probability, it is a valid count.
In this morning's update I stated..."In the 4008-4009 I may open a small long position. I’ll update if I do."
Very soon after I published my morning update I bought, Initially, as a hedge 3 ES contracts at 4008. I updated the morning update post as I moved stops higher and eventually sold all 3 at 4057 for $7,350 in profits on the day. Since my short calls generated just under $12,000 in profits...I didn't want to waste $7k protecting $12k. Therefore I'll restrike higher if I have to as it would seem I have almost 250 points of perceived safety. This puts me at approximately $19,000 in potential profits for February so far. I say potential because my short calls do not expire till end of February.
Tomorrow we have Fed Day. As a reminder my followers have coaxed me into posting a Thought Experiment for Fed Day. Look for that in my morning update tomorrow. Thanks for having me stick my neck out...it's all in good fun.
Sorry this post is early but I have plans this afternoon and won't be in a position to post this evening.
Best to all,
Chris
IMPORTANT NOTE:
SOMETIME BETWEEN MID AND END OF FEBRUARY I WILL ONLY BE POSTING ONCE PER WEEK HERE ON TRADING VIEW. I WILL ONLY BE DOING WEEKEND UPDATES. THE MORNING, EVENING AND SPECIAL UPDATES YOU HAVE RECEIVED IN THE PAST WILL NO LONGER HAPPEN. AS I GET CLOSER TO CHANGING MY POSTING SCHEDULE ON TRADINGVIEW.COM I WILL UPDATE MY FOLLOWERS HERE. CHECK MY PROFILE AREA FOR DETAILS.
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