Replies to post #4233 on Boca_Bobby Basics

[pennies2007]

LOL! Yep, pips, options or stocks, it's all about da green. :-)

I still visit penny boards just for grins and giggles every now and then. I never post on any of them though. Seems like it was 100 years ago I was trading those things...LOL!

I've tried em all pretty much but currency just seemed to click with me. It's definitely taken my charting skills to a whole new level. I'm a lot closer now to a pure price action trader instead of relying on a ton of indicators like I used to. Less is more. :-)

Sure is good to talk to you again. I'll swing by and visit with ya more often.

The one thing we do have in common on both sides is the market, especially the S&P. I use it to help with risk on currency pairs. I'm looking for a possible move on the S&P to as high as 1530 if the current Elliott Wave count holds. Could get interesting.

Have a good one!

[pennies2007]

S&P 4 Hour Chart

Hey Boca. Here's the S&P chart I'm looking at. This is where I'm getting my 1530 target on the S&P from.

Thought this might help for your options trades. It'll be risk on for a while at least through the election if this chart holds up. I expect a nice bounce from these levels.

I'd say the call options are gonna pay off very nicely over the next couple of weeks at least.

4 Hour Chart first and then the zoomed in 30 minute chart showing the correction wave count which will lead us to a nice 5th wave up. Note that the overall 3 wave correction we're in now is similar to what happened last time for the Wave 2 pullback.