Using the coming Correction in 3iv

There is a 5 wave motive clear now on the hourly with the above count possibilities.
If you are a conservative trader, it is best to use the conservative count (1-5), and update short limit entries in accordance with the latest update on idea # 15.
If you are some what aggressive use the count (3i-3iii), then market should be doing a 3ii to sell in today. Place limit shorts as foolows

short 10k @ 37.65
short 10k @ 37.7
short 20k @ 37.8
short 10k @ 37.85
short 10k @ 37.9
short 10k @ 37.95
short 10k @ 38.00

With the limit shorts filled on idea # 15, a 1 standard contract should have been accumulated. SL is subjective. TP still at $ 36

Take Care & trade safe

註釋

All filled to an average of $ 37.84 for 0.8 of a contract
place Sl for 0.3 of amount held at $ 39.40. This will yield a -$468 loss.
Place limit sell orders at
10k @ $ 39.50
10k @ $ 39.60
10k @ $ 39.70
10k @ $ 39.80
10k @ $ 39.90
10k @ $ 40.00
If such orders are filled, the overall position will be 1 standard contract in strength averaging $ 38.80. Tp remains the same @ $36. Sl / Hedge all lots at $40.80.

Take care & Stay safe.

註釋

Close 0.3 of 0.8 Contract held short at current market prices ($38.30).
This equates to a loss of -$138. There is still a possibility to see a leg "C" in the current correction into <$39.50-$39.8> levels.
So keep the above limit shorts <$39.50-40.00> on station for filling.
Target still remains $36. SL / Hedge @ $40.80

Take care & Stay Safe

註釋

leg "C" unfolded & targeted <$39.50-$39.9> levels.
limit orders $39.50, $39.60, $39.70, $39.80 should have all filled.
Position average now at $38.64 Raised from $37.84, to a total accumulation = 0.9 of 1 standard Contract.
Target still remains $36. SL / Hedge @ $40.50
Equity projected at 2.34/standard contract. Risk -1.67/standard contract.

Take care & Stay safe

註釋

Close 0.3 of currently held contract size to bring down risk on an $10,000 account to 10%. This risk assimilation & position econometrics is elaborated in detail in the comment section of idea #15

Closing 0.3 of thee current contract size @ $38.20 equates to a gain = ($38.64-$38.20) = 44 cents / standard contract = $132 in profit for the 0.3 contract size closed. This should about square the -$138 loss already uncured on this position.

For the currently held 0.6 contract size, TP remains at $36.(+2.64/Standard Contract) SL @ $40.50 (-1.86/Standard contract). Risk :Reward here is still low = 1:1.4. Total Risk on account for the 0.6 contract held = -$1116 / $10,000 = ~12%

Take care & Stay safe

註釋

Remove limit orders short still active at
10k @ $ 39.90
10k @ $ 40.0

Take care & Stay Safe

註釋

Trade almost made target. If anyone is following, I would recommend to close here.
Else;- Bring SL down to $28.20/00 - Take profits on 1/2 position, and extend target for the rest till $35.50

Personally, i already collected profits, and won't engage again until $37.50-$37.80 for shorts to $35.50.

Take Care & Stay Safe.