Some of my posts contained some contraband and were removed. The text has been removed and I am just re-posting so y'all can still see the other information.
This move down has been very swift so far, as in dropped over $50 in less than a week. At this time, I am labeling it as a wave of (4) with wave b starting this morning. On the chart, I have a smaller target box for this little retrace to end. Afterwards, wave c should start and take us towards the 0.382 area and into the larger target box.
Wave (2) was deep so wave 4 should be shallow if they are to alternate. There is the possibility this drop has been all of (4) but that is not my expectation at this time. We're still on neg div with-in this move down which indicates it isn't over yet. I still plan on entering a trade when structure tells us wave (4) is complete. My target area is still around the 0.382 fib @ $128.61.
As I am writing this we are coming into my box lol. Let's see if we get the c wave down started today that I am calling for.
This move down has been very swift so far, as in dropped over $50 in less than a week. At this time, I am labeling it as a wave of (4) with wave b starting this morning. On the chart, I have a smaller target box for this little retrace to end. Afterwards, wave c should start and take us towards the 0.382 area and into the larger target box.
Wave (2) was deep so wave 4 should be shallow if they are to alternate. There is the possibility this drop has been all of (4) but that is not my expectation at this time. We're still on neg div with-in this move down which indicates it isn't over yet. I still plan on entering a trade when structure tells us wave (4) is complete. My target area is still around the 0.382 fib @ $128.61.
As I am writing this we are coming into my box lol. Let's see if we get the c wave down started today that I am calling for.
Comment:
On the chart it shows b wave could easily be done as structure appears complete & we have enter the bottom of my target box, but we could still get OMH to finish out this C wave of b. If it hits another high after market opens in a corrective manner, there is a real possibility I buy a put or two with a strike around $130. If we breach $144.12 to the downside, I will consider this retrace complete and wave c started. If I make any trades, I will post them on here. Good luck y'all!
Comment:
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
