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No reversal risk...it is 100% going to expire ITM, and get exercised so it's either that or the call expires OTM like a bankruptcy or something but you already got paid. Essentially you have done an end run around the lockup period. It's the same manuever when you want to take profits, but have...

If you have 100 ABC stock trading at $25 and the lockout period to sell ends on Jan1...could you not sell a Jan2 $1 strike call and preemptively collect your capital? 1 contract $1 strike = $25 *100 = $2500

I think its good to expose options traders to TA...they too often only rely on being non-directional. Is there a quant forum? This should be shared in the quant forum to show them that they are wasting their time trying to reinvent the wheel. :)

It is also worth mentioning that I had this extension charted prior to the fed announcement of .50 rate drop....just another example of the chart dictating the news. :)

When are you going to give kudos where kudos is due? Are you just being willfully obtuse? lol

I like how all the EW naysayers are hiding after I nailed this call AND trade...currently up $3200. :) Still climbing! PM @ 19.14 If you want to see the anatomy of the trade go here: https://www.elitetrader.com/et/threads/bitcoin-price-thread-2-0.381192/

I'll just let the chart do the talking. I hope this finally puts to rest any question about the effectiveness of EW. :) I was up 2k yesterday, but I knew my payoff was going to be on the 19 or 20th on the extension. I have 150 19 contracts, and I'm expecting an open at about 19.07 or so which...

Lambo poor. :)

Well I'm just saying by saving money you're not going to get there. You have to invest it somewhere and most people aren't very adept at investing, more like a GIC or something.

I doubt that from a salary job. Even if you make 250k per year it would take atleast a decade to save 1M dollars... probably longer. Stocks, crypto and real estate are the only avenues to riches.

Blah blah blah company isn't making enough money according to them, so putting the responsibility on their workers instead of themselves. If they want to cut costs then maybe cut some of the fat off inflated corporate salaries. https://www1.salary.com/amazon-com-inc-Executive-Salaries.html...

I keep getting notified of new posts in this topic since I responded to a post about health care so I might as well jump in. I would be expecting a retrace up to .382 so the play would be a call spread or otm calls imo.

This must only be for the customer service aspect...unless I am mistaken and people were controlling the drones and robots from home? With all the technology now that provides for working from home, working in an office is antiquated thinking. Wasted space. Turn it into condos and amzn retail...

It's not a problem. It's saying that statistically you're expecting an outcome and if that outcome doesn't happen then you need to adjust. An invalidation is typical at the beginning of a trend reversal. You can use indicators to help identify them as well. I'm expecting a move up to 62k...

Now if it breaks the .50 level then I would start watching it for a possible invalidation...rule of thumb is it can go as low as the top of the 1st wave on a 4th retrace and remain valid.

I chart on the 4hr usually. Here is the 30 min chart so you can see the subwaves between the 4-->5. So how does this apply to a trade? Well I would be waiting for 5 if I was holding long calls...and I am in BITO with 150 19 SEP20. You punters would have taken profits already! If I take 1K...

BEFORE: AFTER: Look at this move right on the 4 as projected. :) Should we ask @Baron to just close the other bitcoin price thread? I mean is there really any point to it?

Yes chat gpt got it right. Well everything is connected. :)

Not yet but good idea. OK yes I was using .495 instead of .415