Binary Options S&P 500, Entry

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Times are New York time.

S&P 500 (Nadex:US500) 10:03 a.m. entry: Long the >2055 strike for a $64.00 debit with the index price at $2066.30.

The chart below shows the Nadex strike price of 2055 positioned at the equivalent index market price of $2,046.45.

Click on chart to enlarge.

SPX at 10:15 a.m., 5 days 15-minute bars

Wave 4 {-1} to the upside began today, according to my Elliott wave count. Although wave 4 {-1} is a counter-trend movement, two waves within it -- A {-2} and C {-2} -- move with the trend and so I can trade them under my guidelines.

-- Tim Bovee, Portland, Oregon, June 30, 2015

References

My draft day-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

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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