Greetings Traders this is my analysis on SPX500 and it is Short
📊 Overview:
Current price: 5,901 (in the opening zone of the short position).
The analysis points to a short strategy — the author predicts a price decline with the opening of a position between 6.009 and 6.023, aiming for 5.394–5.392.
🟩 Zone of resistance (Resistance level):
Major resistance level: 6,153.39
Price has reacted at that level in the past and has previously been rejected, making it a strong psychological and technical barrier.
🟨 Entry and Expectation Zone:
Open Position zone: 6.009–6.023 (brown zone)
Expected reaction: short signal, if the price is likely to bounce off the resistance and head lower
"First Top" and "Breakout" formations are observed, which is often a sign of a subsequent decline
🔻 Anticipated correction:
Target zone: 5.394–5.392
It is the previous levels of consolidation and the possible target of a short position
An arrow is shown predicting a price drop from the current level
🔴 Support Zone (Support Level):
Main support: 5,091.52
If the price breaks through the target level, it can even go down to this support
🧠 Technical elements:
Elliott Wave marks the completion of the impulse and corrective phase, suggesting the end of the upward wave
Impulsive movement and a drop in price indicate the possibility that the current correction will end and the price will move downwards again
A possible support area has already been tested, but it may be active again
🧩 Conclusion:
Strategy: short entry at ~6,010–6,020
Stop loss should be above 6,153 (above strong resistance)
Target: 5,394 (possible continuation of downward trend)
The plan is based on price action analysis, waves and recognition of key zones
Dear Traders like,comment let me know what do you think?
📊 Overview:
Current price: 5,901 (in the opening zone of the short position).
The analysis points to a short strategy — the author predicts a price decline with the opening of a position between 6.009 and 6.023, aiming for 5.394–5.392.
🟩 Zone of resistance (Resistance level):
Major resistance level: 6,153.39
Price has reacted at that level in the past and has previously been rejected, making it a strong psychological and technical barrier.
🟨 Entry and Expectation Zone:
Open Position zone: 6.009–6.023 (brown zone)
Expected reaction: short signal, if the price is likely to bounce off the resistance and head lower
"First Top" and "Breakout" formations are observed, which is often a sign of a subsequent decline
🔻 Anticipated correction:
Target zone: 5.394–5.392
It is the previous levels of consolidation and the possible target of a short position
An arrow is shown predicting a price drop from the current level
🔴 Support Zone (Support Level):
Main support: 5,091.52
If the price breaks through the target level, it can even go down to this support
🧠 Technical elements:
Elliott Wave marks the completion of the impulse and corrective phase, suggesting the end of the upward wave
Impulsive movement and a drop in price indicate the possibility that the current correction will end and the price will move downwards again
A possible support area has already been tested, but it may be active again
🧩 Conclusion:
Strategy: short entry at ~6,010–6,020
Stop loss should be above 6,153 (above strong resistance)
Target: 5,394 (possible continuation of downward trend)
The plan is based on price action analysis, waves and recognition of key zones
Dear Traders like,comment let me know what do you think?
Trade active
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.