XME looks like a position for a turn down here. Low risk, high reward situation. Above the white box, out of shorts
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With the turn up today, I am no longer bearish of XME -- looks like it was a 3 wave down, followed by a pretty nice turn up. Exited the long side of my put spread, and riding some short 33 put -- Jun29
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Examined the chart more, and basically I entered 35s 15Jun puts, because I think if we get downside, it'll be fast and furious. Also, the diagonal was free -- 15 cents for the long leg, "offset" by 15 cent on the short leg
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After today's action, I feel more confident about downside -- expect a visit of green box first
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Got myself some more Jul puts targeting the box
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Atleast the main trade is still active, the micro trade stopped me out.
Trade closed manually:
Got to 35.3 where I expect an upward reaction which I will short most likely
