As long as we keep making higher lows in the current demand zone, I think we can bounce out and still try for a push up to 138. I, again, redid my wave counts but nothing has changed for my overall projection; just will take different structure to hopefully get up there!
I’m currently in a call spread—entered towards end of day. I’ll be looking for a bounce out of demand and will actually look to lock in some profits fairly quickly as I think the overall market is looking like it is starting to turn over. Just will be avoiding potential of this getting dragged down with it.
Game Plan: watch for higher lows to continue and hopefully capture an impulse wave 3 up. My stop for my current trade is 118.12. Break below this and I think 108 can be targeted. If we continue up, my target is 138, but above 135 is high caution for me.
I’m currently in a call spread—entered towards end of day. I’ll be looking for a bounce out of demand and will actually look to lock in some profits fairly quickly as I think the overall market is looking like it is starting to turn over. Just will be avoiding potential of this getting dragged down with it.
Game Plan: watch for higher lows to continue and hopefully capture an impulse wave 3 up. My stop for my current trade is 118.12. Break below this and I think 108 can be targeted. If we continue up, my target is 138, but above 135 is high caution for me.
Game Plan Update: I think that we now established yellow waves 1 - 2 out of demand and that we could be working on wave 3 within the yellow waves. Meaning, yellow wave (3) should have 5 smaller degree waves within that. What I would look for now is for these smaller degree waves 1 - 2 to be established and print a higher low. If this happens, I think that keeps first target of 135 definitely in play!