Today I carefully studied minuscule movements of SPX500 for the past couple of days from previous low. I see it as a choppy sequence of 3-3-3 waves which gives me comfort that we are in the final stage of correction and downtrend will resume very soon. Unfortunately, I will not be able to witness the US session today but I would expect the price to drop at the US opening then surge within a couple of hours to complete ABCDE pattern only to drop again forming a bearish pinbar on 4H chart.
I will put a limit order to build up my position and move stops to just above previous high.
I will put a limit order to build up my position and move stops to just above previous high.
Note
this count is corrected here
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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.