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I dont want the market to be flat so that I can exit the trade early.  I rarely hold to expiration.  I normally exit halfway through.  I end up making more on a per day basis that way.

You are right the ladder can happen naturally if you are opening trades on both sides, that's a cool approach.  But then one trade may be a loser.  However with an actual ladder each of the trades can be winners. 

Have you guys looked at Ladder credit spreads?  You are basically adding on one far OTM option to cover the possibility of a surprise move in the wrong direction.
By doing a ladder you can win no matter which direction the market moves ... all you need to bank on is the market moving at least 3 % up or down - a flat market is no good.

I do the same thing DigiNomad: use TA to lean in one direction while opening spreads.

I like to open credit spreads just because my downside risk is capped, plus I think the margin requirement is lower since I am taking on the credit.  I agree, its good to have a system where you can win in 3 of 4 scenarios, 80% of the time.

I open 2-3 month long spreads and usually close them out in about a month ... depending on where we are in the elliott wave counts.  I find its not worth holding all the way 

You can make more with spreads than with the indexes themselves 

Looks like SPX  wants to

Posted by mirhamedali on 12th of Sep 2022 at 02:31 pm

Looks like SPX  wants to hit the .618 retrace
which would then surely lead to some kind of pullback
that pullback could be the major drop into wave 3 of three
or it would just be a B wave pullback followed by C up to close that gap at 4225 

Same here Steve. That resistance

SPX Views

Posted by mirhamedali on 9th of Sep 2022 at 06:09 pm

Same here Steve. That resistance point is also the 38% retrace from the previous high. So lots of confluence above. And we have had no pull back from the lows yet. 

I am hoping this starts the big wave three of three down but I wonder if there might be a bit more chopping around. 

We appreciate how busy you

example of emails I get

Posted by mirhamedali on 7th of Sep 2022 at 10:08 pm

We appreciate how busy you guys are.  I don't think there is anyone out there that provides as much useful as you guys do.

Perhaps you could record a video going over the stats etc.  I am sure it would be excellent material for the YouTube channel aswell.

You could also host a Zoom call where you take questions and then record that session for future newbies.

There she goes! This may be

Late bear flag setting up

Posted by mirhamedali on 2nd of Sep 2022 at 03:45 pm

There she goes!
This may be micro wave 3 of the final wave 5 down before a larger correction can begin

Late bear flag setting up

Posted by mirhamedali on 2nd of Sep 2022 at 03:21 pm

Late bear flag setting up

Bull Flag / pennant forming at the top of the channel now.  Looks like it wants higher ?

$SPX, similar look to NDX.

Posted by mirhamedali on 2nd of Sep 2022 at 11:48 am

$SPX, similar look to NDX.  Hard resistance here at 38% and the previous W4.  Major confluence.

A day or 2 for retrace makes sense Kobie.  People might be scared to hold over the weekend.

And A-B-C corrections tend to be very overlapping so it fits the character.

But if that neckline breaks early then there is going to be a huge short squeeze ahead!  Current market sentiment is super bearish.

Forgot to mention that was a chart of the NDX

Also its bouncing off the .38% retracement and facing resistance at the previous W4 high ... it would be a big deal if the bulls can bust through here ... I doubt they can do it without a pullback first.

Potential channel break here which

Posted by mirhamedali on 2nd of Sep 2022 at 11:19 am

Potential channel break here which would set up a nice IHS 

Thanks Matt!! 

That would be greatly appreciated 

great looking charts!

Long Setups

Posted by mirhamedali on 1st of Sep 2022 at 11:31 pm

great looking charts!

ARKK wedge breakout setting up

Posted by mirhamedali on 1st of Sep 2022 at 04:18 pm

ARKK wedge breakout setting up on the hourly chart 

Its amazing how many times

NQ30 falling wedge

Posted by mirhamedali on 1st of Sep 2022 at 03:35 pm

Its amazing how many times these things sync up.  gotta love TA :-)


excellent call Kobie!

SPX 1 min

Posted by mirhamedali on 1st of Sep 2022 at 03:10 pm

excellent call Kobie!

Looks good Kobie.  Might need

NQ30 falling wedge

Posted by mirhamedali on 1st of Sep 2022 at 03:09 pm

Looks good Kobie.  Might need a pullback before breaking out but its acting strong.  Your wedge lines up exactly with the morning gap fill on the SPX.  

I was too chicken to play this wedge on the 3min chart earlier today:

But if the move off the lows was a leading diagonal then overlap between 4 and 1 are permitted. 

Regardless the bears are clearly in control with lower lows and lower highs. 

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