Last Friday witnessed rejection at the lower Elliot channel boundary.
A 9-wave Elliot extension has now partly completed, and will confirms once negative momentum breaks on the 4Hr frame. (very probable, as there is already trending -ve momentum on the Hr frame ). Amend targets for short holdings as follows:-
Once $36.00 is broken, pace an SL on all holdings (average $37.826) at Break even.
Move Target to $32.50 / $32.00
Re short on bounce from 2nd neckline, re short zone $35.50-$34.50 to target $28.00.
If anyone is following, on the short term and are uncomfortable holding on, they are advised to take profit $35.50/$35.00 - that would be > $2/Standard contract = $2000,-
Take Care & Stay Safe.
A 9-wave Elliot extension has now partly completed, and will confirms once negative momentum breaks on the 4Hr frame. (very probable, as there is already trending -ve momentum on the Hr frame ). Amend targets for short holdings as follows:-
Once $36.00 is broken, pace an SL on all holdings (average $37.826) at Break even.
Move Target to $32.50 / $32.00
Re short on bounce from 2nd neckline, re short zone $35.50-$34.50 to target $28.00.
If anyone is following, on the short term and are uncomfortable holding on, they are advised to take profit $35.50/$35.00 - that would be > $2/Standard contract = $2000,-
Take Care & Stay Safe.
Trade active:
Holding 1 standard contract short averaging $37.826
Add Short Limits as follows
10k@ 39.90
10k@ 39.80
10k@ 39.70
10k@ 39.60
If filled position average becomes $38.37 for 1.4 standard contract- Risk at $40 is -23% (-$2300). Risk @ 440.50 = -30% (-$2982)
Target same @ $32.50
Take care & stay safe.
Add Short Limits as follows
10k@ 39.90
10k@ 39.80
10k@ 39.70
10k@ 39.60
If filled position average becomes $38.37 for 1.4 standard contract- Risk at $40 is -23% (-$2300). Risk @ 440.50 = -30% (-$2982)
Target same @ $32.50
Take care & stay safe.
Trade active:
<$39.60-$39.80> filled, to a contract size = 1.3 averaging $38.25
Remove 10k short entry @ $39.90
Risk assessment remains as outlined above. Target remains @ $32.50
Correction:-
"440.50" above should read "40.50" Sorry for the Typo
Take care & Stay Safe
Remove 10k short entry @ $39.90
Risk assessment remains as outlined above. Target remains @ $32.50
Correction:-
"440.50" above should read "40.50" Sorry for the Typo
Take care & Stay Safe
Trade active:
The position has reached risk @ $40.50 = -30% for 1.3 contract size on a $10,000 account. So I will work to assimilate half the risk.
Place Tp for short holdings $39.60-$39.70-$39.80 @ $39.20
Place Tp for 1 x 10k short acquired at $37.826 also at $39.20
$39.20 is y'day's low, and the lower 1HR BB.
If filled contract size gets reduced to 0.9 at 37.826 average.
Risk @ $40 becomes -$1962 = ~20% on 10,000 account
Targets for 0.9 contract remains the same @ $32.50
Take Care & Stay Safe.
Place Tp for short holdings $39.60-$39.70-$39.80 @ $39.20
Place Tp for 1 x 10k short acquired at $37.826 also at $39.20
$39.20 is y'day's low, and the lower 1HR BB.
If filled contract size gets reduced to 0.9 at 37.826 average.
Risk @ $40 becomes -$1962 = ~20% on 10,000 account
Targets for 0.9 contract remains the same @ $32.50
Take Care & Stay Safe.
Trade active:
There is a Bear Motive on the 1HR chart now doing a wave-3
Remove TPs @ $39.20
Holding 1.3 contract shorts averaging $37.826 targeting $32.50
Add Short limits @
10k @ $40.10
10k @ $39.90
All to same target $32.50
Take care & Stay Safe
Remove TPs @ $39.20
Holding 1.3 contract shorts averaging $37.826 targeting $32.50
Add Short limits @
10k @ $40.10
10k @ $39.90
All to same target $32.50
Take care & Stay Safe
Trade active:
10k @ $39.90 filled to an overall average $37.97 for 1.4 contract size.
take the 10k @ $40.10 limit short down to $39.25
TP for all remains @ $32.50
Take Care & Stay Safe.
take the 10k @ $40.10 limit short down to $39.25
TP for all remains @ $32.50
Take Care & Stay Safe.