BOA Perfect Setup

BOA is a buy on the monthly, weekly, daily, and hourly chart. 

QCOM - 1-2's to the downside lined up both price and time

Finally got the trade on, in at $134.50

The feeder cattle entry finally happened today, low risk perfect setups certainly require patience. Long 10 contracts $134.50 at the 50% retracement and gap fill. Stop 1 tick above entry point so it's a free look. I'm looking for a run to $150, potential profit is 15 X $500 X 10 = $75k, risk = 0 other than a couple limit down days in a row jumping my stop.

Feeder Cattle - switched to October contract

It's still looking like a nice entry at $134ish. 

Feeder Cattle Fractal

Feeder Cattle has shown a history of very deep and fast 4th waves. Price retraces a fibo 61.8% of the prior 3rd wave, very unusual, but a great trading opportunity if you are on top of it. What a 4th does in price, it doesn't do in time, and what it does in time, it doesn't do in price. The opposite of these moves would be a contracting triangle that eats time but not price.  I have posted a couple examples of the 4th wave fractals that have formed in the past. The price gap at $130 right at the 61.8% of the prior move is looking like a low risk high reward trade setting up. Hopefully price will fill the gap and then make a new high for the year.   

It was a very good day!!

Euro setup result