Our 524 1/2 target was hit today and we're out. It looks likely we're going to get more upside, but today was a large candle with a close near the top, and right at a 61.8% Fib retracement (of the yellow range). Its quite possible we'll get a reversal tomorrow due to profit taking. See July 15-16 as an example of this. So I'm going to wait to enter until I see a bit of a retracement to the downside, maybe on a smaller time scale.
Saying I see more upside but waiting for some downside may be confusing. What I mean is I'm waiting for a pull back in the very short term followed by more upside after that.
So we made a profit of 524 1/2 - 514 = 10 1/2 * $50/pt = $525. A nice win for just a 2 day trade.
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