Our overview: The selloff of the yesterday's session, redraw the intermediate(green) trend's structure with a deep wave 2. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 1.
Our current strategy: The breakout of $72.50 in the yesterday's session trigger the hedging point in our system, then we took profit and resetting our position's delta to moderately long close to the yesterday's session low at $70.55. Our current position's risk profile @$70.70: Delta +0.35, gamma +0.22 Hedging point: on breakout $70.50 Moderately Long looking to follow the trend's wave with first target @$72.50.