This will be the first time we've seen this live - but the bear
long for the SPY and ES are looking to take another entry on this
pullback.
remember this strategy can buy additional entries at higher
prices - see example. For this trade I'll probably not issue option
trades just ETF and MES for for the ES system.
The ES short is still active of course from the QE 3
I posted 2 Fib Sets - one on the 30 (with comments) and another
on 15 minute (earlier). I sent you a PM yesterday looking for
a pop and pullback to 3860 but once broken it brought into question
a deeper retrace.
I don't know, this is the first one of these in real time I
think. also the past trades that higher entries tended to occur
after a larger rally when the trade was up more . I figured also
since this pullback is a bit deep for a 4th wave, why put in
additional risk and complexity. again do what fits you, the
nice thing about the bear long trades is that they are still nicely
profitable especially since we took off that option on Friday and
this trade will simply stop out if things unravel so the trade
doesn't carry much risk
The short on Friday's on ES was great. Again not everyone trades
MES or ES futures (futures are not for everyone) however you can
still trade the ES signals but with the ETF's instead of the
futures
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SPY and ES systems possible trade
Posted by matt on 28th of Jun 2022 at 02:43 pm
This will be the first time we've seen this live - but the bear long for the SPY and ES are looking to take another entry on this pullback.
remember this strategy can buy additional entries at higher prices - see example. For this trade I'll probably not issue option trades just ETF and MES for for the ES system.
The ES short is still active of course from the QE 3
the SPY bear long took
Posted by matt on 28th of Jun 2022 at 04:05 pm
the SPY bear long took that additional entry - ES should as well once that bar closes at 5 pm
Thanks Matt! I'm taking the
Posted by jared95 on 28th of Jun 2022 at 04:18 pm
Thanks Matt! I'm taking the SPY trade since I closed it early. Missed the ES short on Friday (sad face).
If you were taking the
Posted by greggone on 28th of Jun 2022 at 04:09 pm
If you were taking the options trade here would you take options with a delta of .4-.5 as you have mentioned in the past?
If this is a wave
Posted by retirefire on 28th of Jun 2022 at 02:48 pm
If this is a wave 4 down addition entries would be perfect for wave 5 up in the bear long SPY trade.
As I posted earlier, this
Posted by steve on 28th of Jun 2022 at 02:51 pm
As I posted earlier, this too deep for a Wave 4 (thus have to view as a Wave B or directly more bearish).
Steve- is that the chart
Posted by kobie on 28th of Jun 2022 at 02:56 pm
Steve- is that the chart you labelled "4?"
I posted 2 Fib Sets
Posted by steve on 28th of Jun 2022 at 03:02 pm
I posted 2 Fib Sets - one on the 30 (with comments) and another on 15 minute (earlier). I sent you a PM yesterday looking for a pop and pullback to 3860 but once broken it brought into question a deeper retrace.
thanks for clarification, I missed
Posted by retirefire on 28th of Jun 2022 at 02:53 pm
thanks for clarification, I missed that.
Was literally just typing a
Posted by greggone on 28th of Jun 2022 at 02:46 pm
Was literally just typing a question about whether this was possible when your post showed up.
Curious why you won't issue option trades though? Is there something about a new entry that would give you pause in that regard?
Thanks Matt!
I don't know, this is
Posted by matt on 28th of Jun 2022 at 02:56 pm
I don't know, this is the first one of these in real time I think. also the past trades that higher entries tended to occur after a larger rally when the trade was up more . I figured also since this pullback is a bit deep for a 4th wave, why put in additional risk and complexity. again do what fits you, the nice thing about the bear long trades is that they are still nicely profitable especially since we took off that option on Friday and this trade will simply stop out if things unravel so the trade doesn't carry much risk
Thanks Matt, appreciate hearing your
Posted by greggone on 28th of Jun 2022 at 03:06 pm
Thanks Matt, appreciate hearing your thinking on this.. and yes, this trade has been more than nicely profitable i'd say!
The short on Friday's on
Posted by matt on 28th of Jun 2022 at 03:18 pm
The short on Friday's on ES was great. Again not everyone trades MES or ES futures (futures are not for everyone) however you can still trade the ES signals but with the ETF's instead of the futures