Setup looks bullish as it completes 5th move of Elliot Wave, bounces off bottom Bollinger Band and cuts through 10 ema on the hourly.
Note
Considering that SPY looks bearish right now, I bought puts in MU which seems to have a bearish setup to hedge this.
Note
sold calls at 81.87, looks like SPY formed head and shoulders. I want to avoid market risk as I already exited my hedge early since it hit it's stop. Maybe in the future I shouldn't do that?
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.