S&P500 elliot wave Update, bearish setup time

Everything is going as predicted so far

Time to setup a short position.
I am gonna sell when we "break" the confirmation level.

*break means you see a read candle that breaks the level and at least 50% of it crosses the candle.

** MAKE SURE YOU ARE NOT RISKING MORE THAN 1-3% Of YOU WHOLE TRADING ACCOUNT, THE AMOUNT OF MONEY YOU LOOSE IF WE HIT THE STOP LOSS MUST NOT BE MORE THAN 1-3% OF YOUR WHOLE CAPITAL***

Note

This scenario just invalidated, the invalidation point got hit and the confirmation point never got touched

Note

this is the new model
we need to see the price to bounce back near the invalidation level first.

Note

we have a fibo ratio witch matches with a important resistance level,
watch the market reaction there

Note

the box in the 4h chart
It is close to the triangle trend line
it confirms the fibo ration
and it is just bellow the invalidation level
watch it very carefully

Note

the invalidation level got hit and teh confirmation level was never triggered. thsi scenario is invalidated

Note

So far 3 bearish models are invalidated
the last bearish model is this one:

if this one gets invalidated then I will stay away from another market and wait for a proper buy or sell signal

Note

we hit the invalidation level
so the uptrend was just an abc

get ready to short

Trade active

I have updated the post please see the new post for realtime updates

Analyticssage

Also on:

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.

Analyticssage

Also on: