Binary Options S&P 500, Update

Updates with Trade #2. Times are New York time. See the earlier post here.

Trade #1: S&P 500 (Nadex:US500) 11:03 a.m. entry: Short the >2118 strike for a $75.00 debit with the index price at $2,122.00.

The Nadex strike price of 2116 is the equivalent index market price of $2,126.48.

Trade #2: S&P 500 (Nadex:US500) 1:02 p.m. entry Long the >2112 strike for a $58.00 debit with the index price at $2,120.99.

The Nadex strike price of 2112 is the equivalent index market price of $2,119.39.

Click on chart to enlarge.

S&P 500 AT 1:20 p.m., 2 days 30-minute bars

Following my bearish entry, SPX continued a downward course until it produced a higher low with the 12:30 p.m. bar (marked with an arrow). That's a Ross Hook bullish entry signal. The index on that bar failed to produced a higher high, so I retained my first bearish position.

So my position now is a spread that is $4 wide, profitable between the Nadex levels of 2112.01 and 2116.

Trade #1 is marked in red, Trade #2 in blue.

-- Tim Bovee, Portland, Oregon, June 23, 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

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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