Short

$ETSY - New Wave Cycle

Updated

This is a great opportunity. looked like a buy this morning and it raged! I was so happy. My account so happy. But when I zoomed out I noticed something troubling... We just completed a bull cycle and now commenced a bear cycle. I happened to time corrective minuette wave b at the perfect time. The good news is that I now know to sell, by puts targeting $80 range for primary wave 3. Target should be met by early next week (9.30.20).

I will do my best to post updates but think about loading up on puts and confirmation is below $106.

Good luck.

Note

My target for Wave 3 is a measured move. Should be longer than wave 1. $80 is a bit conservative.

Note

Today was a great day. completed a clean impulse wave down. I believe we see a short correction in the morning before making another leg down tomorrow as well, completing the third wave. 10/2 $100 P with a target below $90. Good luck.

Note

Wave C completed. Next impulse wave has started. Looks like 1 & 2 finished by eod on 9.24.20

Expect a wave 3, 4 and 5 to unfold pretty quickly on Friday. Market looks pretty undecided at end of day so trade safe.

Note

EW waves evolve over time but we are still on track. Today seemed bullish. This is typical of a wave 2. A wave 2 typically retraces nearly all of wave 1. This means that Monday should be the start of wave 3. I hope you got your shorts on! if not, get it on early in the morning with a stop above the start of wave 1. A break out above wave 1 will invalidate my wave count. Good luck. Trade safe.

Harry_Hood

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