Our 240 Minute TLT chart below is annotated with my best drill down EW count, suggesting a third wave at multiple degrees of trend has begun. TLT 4 Hr Today's red bar has price dropping out of the Fib retracement zone, headed toward EW target zone of 75-81. TRADE MANAGEMENT TLT - Unexpired PRO Puts Some to all of the above positions should have been exited at about +70% to +80% as the 50% trailing stop kicked in following the April 11th Best Returns. Plan on holding whatever is left to expiration, unless remainder of position hits -50% hard stop. If completely out, now is a good time to re-enter the Jun $88P, looking for 3X to 5X, minimum. BTC Daily - Reversal or Breakout, Pending The EW count for Bitcoin shows 5 waves up from late 2022, which would be inconsistent with a new high above $110K. Key: Divergence in Elliott Oscillator. Accordingly, I am watching Bitcoin closely for a reversal, but also for a dynamic breakout above $110K. Either of these developments would generate new trade ideas via IBIT/BITO calls or puts. Stand-by.
