Members Update 8/22

*disclaimer: Not financial advice. This is my personal trade plan only. I am not qualified or licensed to advise anyone on their specific positions or trades, I am sharing my personal opinions only. Never make financial decisions based on any information on this site or any associated platforms. Always consult a professional for investment related advice and do your due diligence*

Note to group members:
I will be out of town this week and will be at a limited availability. I will be managing my $SPY short as well as the $FB and $MRNA setups you’ll see in this update, and will post all of these trades in the discord. That will likely be my only trading activity. The daily livestream and newsletter will resume Monday 8/30. Have a great week!

The move today looks very much like a huge trap. I expect to see some nasty reversals on Monday to take us to new lows. I am currently short $SPY and will look to add to shorts as the reversal takes place. If ATH are reached, the bearish counts are invalidated and I will exit shorts.

$ES (View)

$NQ (View)

$RTY (View)

Trade Plan:

$FB (View)

Short Entry Plan (View)

  • I am watching $FB very closely along with $NQ for signs of a reversal. So long as the $NQ bear count remains valid, I will be scaling into $FB shorts as shown. My target is $340.

$MRNA (View)

  • There are two setups here on $MRNA. The larger degree setup is a short. I am looking for an impulsive C wave up to $440 where I will get short on a reversal. This may take some time to develop.

Long Setup (View)

  • In the meantime, there is an excellent long opportunity. I will be getting long Monday at the open with stops at $369 and targets of $413 and $433. I will likely take shares rather than calls.

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