Updated Count and time horizon discussion for Vix: Minor 1
Want to drop this real quickly: All info & price action I am seeing, and in the estimation of my mentors, this continues to be constructive bearish market price action, and although these moves have endured a little longer than expected, we did breach our lower target at around 18+, and I still expect that we tag the upper target in lower 20s.
Sticking with the inspiration for the original post, Mr. Newton was very precise in stating that these are targets for AUGUST, so I have used that time parameter in the charting. Although this chart sees us moving up a little higher, perhaps, into September, to complete our Minute ((v)), my current ES chart says this Minor 1 should occur around August 24. Either way, if the upper targets hit, I expect pullback into September.
As we approach the end of Minor 1, the goal will be to narrow the expected time range, in order to optimize profit potential of short positions, both coming out of the move, and hedging into the retrace for longer dated options.
Best, Cuz
Sticking with the inspiration for the original post, Mr. Newton was very precise in stating that these are targets for AUGUST, so I have used that time parameter in the charting. Although this chart sees us moving up a little higher, perhaps, into September, to complete our Minute ((v)), my current ES chart says this Minor 1 should occur around August 24. Either way, if the upper targets hit, I expect pullback into September.
As we approach the end of Minor 1, the goal will be to narrow the expected time range, in order to optimize profit potential of short positions, both coming out of the move, and hedging into the retrace for longer dated options.
Best, Cuz
