Went with a weekly expiry put yesterday to get started in speculation of
HPQ
to the downside. So far it's going OK. Will look to close it by Thursday and pick up some longer expiration puts when a little longer correction happens. This is one possible wave count. Another way I'm looking at it will be in the comments. Either way I will be looking for moves down, whether it's an impulse or a correction is the question?? What are your views?
HPQ
to the downside. So far it's going OK. Will look to close it by Thursday and pick up some longer expiration puts when a little longer correction happens. This is one possible wave count. Another way I'm looking at it will be in the comments. Either way I will be looking for moves down, whether it's an impulse or a correction is the question?? What are your views?
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if the weekly is already a completed flat. then we'd have a pullback for wave 4, or C wave of a running flat. This doesn't have to happen right now, however the divergence and lower TF sell setup has me thinking we will see some sort of downside whether it's a correction, or an impulse!! Trade safely!
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well, I was about a week early. Oh well. Now let's see if we get a nice hourly/daily consolidation, THIS, will be the confirmation of the next move lower, and it could be a BIG move down when considering the weekly structure.
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Will we come back up for one more before the impulse making a bigger flat, or is the impulse already in play? Picked up a put this week, lets see where it goes!
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expanded flat? Looking that was so far. Wasn't thinking the C wave would have made such a large expansion, but hey, we get surprised everyday!