I suggested PL would sell off this morning
gyazo.com/e458925aee0db2f74f6e78f3b495a214. This was the situation then, PL1! had gone up to recent ATH and set a new record for recent months. I looked at the contract 1 month out, PLQ2024 and found them way overbought, and at the top of wave 5, and there were only 3 buys that took PLQ2024 to the same high as the current contract PLN2024.
Because of all these factors, reasoned that when the current contract sold off there would be no support all the way down to recent highs. It is working.
proof:
tradingview.com/chart/kHhXL0uy/
This contract is so thinly traded there are 0 buy contracts all the way down into the 1011.7 area.
new information, my EWT SW told me they might shoot up on a 5th wave, so set a very tight stop ( usually I use an ATR stop, but this stop was to protect profits. I took 95% of my profits, went long rode the wave up and re shorted even higher than before. 1033.30.
gyazo.com/d4eb6d71d2cffecd3f1c5043dc45dc7e
Because of all these factors, reasoned that when the current contract sold off there would be no support all the way down to recent highs. It is working.
proof:
tradingview.com/chart/kHhXL0uy/
This contract is so thinly traded there are 0 buy contracts all the way down into the 1011.7 area.
new information, my EWT SW told me they might shoot up on a 5th wave, so set a very tight stop ( usually I use an ATR stop, but this stop was to protect profits. I took 95% of my profits, went long rode the wave up and re shorted even higher than before. 1033.30.
gyazo.com/d4eb6d71d2cffecd3f1c5043dc45dc7e
Please check out Kauai Dave Pivot Traders on youtube. youtube.com/channel/UCNpY7S_s1cxw0cer4PyEEMQ
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