Binary Options S&P 500, Entry

Times are New York time.

S&P 500 (Nadex:US500) 9:36 a.m. entry: Short the >2115 strike for a $43.75 debit with the index price at $2,122.73.

The chart below shows the Nadex strike price of 2115 positioned at the equivalent index market price of $2,122.98.

Click on chart to enlarge.

S&P 500 at 9:55 a.m., 10 days 30-minute bars

The index began the day with a downward hook that ended an uptrend within the downtrending wave A correction. I've placed an Elliott-wave style channel around the decline and expect the next micro-move to be an upward hook from near the bottom line of the channel, presently at $2,116.60. Should that hook to the upside occur, I'll add a long position, creating a spread.

-- Tim Bovee, Portland, Oregon, June 24, 2015

References

My trading rules can be read here.

Elliott wave analysis tracks patterns in price movements. The principal practitioner of Elliott wave analysis is Robert Prechter at Elliott Wave International. His book, Elliott Wave Principle, is a must-read for people interested in this form of analysis, as is his most recent publication, Visual Guide to Elliott Wave Trading. 

Several web sites summarize Elliott wave theory, among them, Investopedia, StockCharts and Wikipedia.

See my post "Chart Analysis: Nomenclature" for an explanation of my method for labeling waves on the chart.

Alerts

Two social media feeds provide notification whenever something new is posted.

• On Twitter: Follow Tim Bovee: https://twitter.com/TimBovee
• On Facebook, Like Private Trader: https://www.facebook.com/PrivateTrader

Disclaimer

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.

License



All content on Tim Bovee, Private Trader by Timothy K. Bovee is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Based on a work at www.timbovee.com.Tss s ss'ss