do you see the uptrend which started on april 2 as a 5 wave one or an ABC? if it is a contertrend ABC, then the drop today might be a wave 1 down. Failure or not at spx 2700 will tell the story.
Well after scewing up the PUT trade, left a double on the table by tightening the stop. I doubled out on the 269 april 20 calls. So I feel better now. Note the pattern at the fibs on the 60 circled. almost hits the fib bounces hard, then hits the fib on the down side. On the up side first hit on fib retraces to next lower fib. Second hit on same fib goes to next fib.
If that pattern repeats I'll be long in a swing for the 786 fib.
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