So, I shorted today at highs, after seeing how cheap calls got I set up a straddle and extended my time frame
I am a firm believer in elliot wave theory & gap fills
charts never lie
seeing an expanding wedge above the 78.6 was honestly all it took to change my thesis
(:
Broke 78.6 retracement, If a break above the 78.6 ext; it will set up SPCE for new ATH's
SPCE is giving me a JKS vibe......
my PT's are marked on the chart!
--
completely trading against my macro thesis here
but the chart has a pretty clear pattern now
a break into the 38's will be confirmation that we should see resistance @ about 46 in my opinion..
with this much volatility recently over here I wouldn't be surprised if it happens by EOY
with that being said - FB got sued by 48 companies yesterday.... hahahahhaha, China is now using digital currency- which sets up for deflation in the U.S.
if claims are a miss today I could see another leg down in the markets, which is why I haven't covered all my short yet B)
just good to keep that 'expanding wedge' thought in the back of your mind
Have we reached "A New paradigm" yet?
... give it a couple more days
just a feeling
anyway,
GL!
I am a firm believer in elliot wave theory & gap fills
charts never lie
seeing an expanding wedge above the 78.6 was honestly all it took to change my thesis
(:
Broke 78.6 retracement, If a break above the 78.6 ext; it will set up SPCE for new ATH's
SPCE is giving me a JKS vibe......
my PT's are marked on the chart!
--
completely trading against my macro thesis here
but the chart has a pretty clear pattern now
a break into the 38's will be confirmation that we should see resistance @ about 46 in my opinion..
with this much volatility recently over here I wouldn't be surprised if it happens by EOY
with that being said - FB got sued by 48 companies yesterday.... hahahahhaha, China is now using digital currency- which sets up for deflation in the U.S.
if claims are a miss today I could see another leg down in the markets, which is why I haven't covered all my short yet B)
just good to keep that 'expanding wedge' thought in the back of your mind
Have we reached "A New paradigm" yet?
... give it a couple more days
just a feeling
anyway,
GL!
