Short term play on s&P
Updated
Still need to complete wave 5 down
Entered short at .38% retrace of wave 3
Possible that we completed 5 waves up so trend could have changed - risk should be small
Will look for price action around 2652 or 618 retrace of possible wave 1 up
Purchased put option spread 2690-2730 for $200
Max profit is $760
Entered short at .38% retrace of wave 3
Possible that we completed 5 waves up so trend could have changed - risk should be small
Will look for price action around 2652 or 618 retrace of possible wave 1 up
Purchased put option spread 2690-2730 for $200
Max profit is $760
Trade closed manually
Should have taken profit when this hit 2600 or .38% retracement - but kept hoping for it to drop another 10..ended up keeping it till the daily option expired at 2622. Ended up losing $80 on the trade instead of making $600. Greed doesn't pay with daily spreads.
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