An Alternative Butterfly
AMZN saw a nice snap back on Monday, and while we could climb to $1700, I like considering strategies that profit even if we fall short.
AMZN saw a nice snap back on Monday, and while we could climb to $1700, I like considering strategies that profit even if we fall short.
The action we saw today confirms that last Friday was the “pit bull low”. That doesn’t guarantee we push higher from here, but I’m going to have some positions set neutral to bearish and some that will do well if we continue to push higher. Let’s review all of them.
Patience in currencies, gold, and bonds while crude oil and equities are moving higher after pullbacks to the 34EMA Wave.
This was a textbook setup on the gap down in BA, its effect on the YM, and the Clearing Range trade today that seemed counter-intuitive but nailed it from the open.
While last week’s selloff was fun to play, get ready for this next setup.
With quadruple witching around the corner, here’s what we’ve got going on.
Getting aggressive or “aggro” with entries can be as simple as recognizing when the market has good trend structure as opposed to weaker structure. Minimize risk and know when to press an entry with some simple(r) tools.