KBH - ABC Short

Indexes turning bearish at least in the short term so its time to find a suitable short.

And so KBH here appears to be completing an ABC retracement that if correct will see it go much lower.

Plenty to go on:

• Its hit the 1:1 .
  
  
• Its printed a probable exhaustion gap.
  
  
• Its formed a fast wicked top SRP through the 1:1.
  
  
• Its filled a gap from 9 June.
  

I've bought a Jan 2023 ATM put near 0.618 retracement

Not advice.

Kommentar:

There were a couple more greed testing Wyckoff UT Upthrusts, but now the trend has broken to the downside in tandem with index retracement.

Going very well 😸.

Kommentar:

This drifted a while but now indexes are falling, KBH is plummeting!

1:1 is $16 and it will probably overshoot perhaps to the 1.272 at $13 so targets to cover will be in that area I think.

Kommentar:

This one is working out very well 😸.