this is speculative and is not meant to be financial advice, but a hypothetical idea which other versed investors can agree or disagree with what is presented in this picture. Seems like a pretty simple quick 5% rip. One could maybe maximize earnings through a put play. This could also be a complete fakeout, so waiting for confirmation is crucial.
if we get a down day in the market on Wed 8/14 we could have retracement to low like projection 1, 5 percent% rip possibility with ITM put, or short play.
option 2. we find some sort of reversal in between.
option 3. mixture of both.
yes I know the fib is done upside down. This is a test.