SPX BTFD - Long opp soon??!
Looks like wave 1 of 5 ended at 2186.8 and we have a 3-3-5 structure building now for wave 2 in the form of a flat.
2167 is .618 fib retrace as well as bottom of channel, hoping to see spx drop till there to grab a long, but will start a long position once it seems like the 5 wave down is complete. currently looks like we are on wave 3 of corrective wave C.
2167 is .618 fib retrace as well as bottom of channel, hoping to see spx drop till there to grab a long, but will start a long position once it seems like the 5 wave down is complete. currently looks like we are on wave 3 of corrective wave C.
Note
target reached, but didnt like the wave structure of the move down, couldnt fit 5 waves in, might go lower than channel, but not lower than 2155.9 (else I'll ahve to recount!!)
possibility that this might be an expanding triangle instead of a A-B-C correction and wave 4 isnt over yet... but will have to take a deeper look at the sub waves if we do break 2155.9
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.