Updated
S&P 500- In the target box
Hello traders!
As per previous posts, we believe the SP500 to be in a primary wave (B) to the upside correcting the donwtrend from January's 2022 top.
Here is the count on the daily time frame:
Price action shows this primary wave (B) unfolding as a double zig-zag. The structure of the last decline from 4194 seems a 3-3-5 that would complete wave B of the last zig-zag, thus providing a setup for trading the last leg up of primary (B) to 4300+.
From a pattern perspective, we can see the bearish wolfe wave target at the main downtrendline in blue.
Will search from long setups lower in the green target box and will update below.
Happy trading!
GMR
As per previous posts, we believe the SP500 to be in a primary wave (B) to the upside correcting the donwtrend from January's 2022 top.
Here is the count on the daily time frame:
Price action shows this primary wave (B) unfolding as a double zig-zag. The structure of the last decline from 4194 seems a 3-3-5 that would complete wave B of the last zig-zag, thus providing a setup for trading the last leg up of primary (B) to 4300+.
From a pattern perspective, we can see the bearish wolfe wave target at the main downtrendline in blue.
Will search from long setups lower in the green target box and will update below.
Happy trading!
GMR
Trade active
giving a first try, vix reached its target.
Entry @3998.1
Trade active
stop loss on entry.
Monitoring the possibility of a descending broadening wedge.
Trade active
still in from @3998.1
Trade closed manually
Kicked out at entry. Now observingNote
Targets of Adam and Eve top and Inverse Cup and Handle are at the bottom of target box
Trade active
restriked @3984.1
Trade active
stop loss on entry. A short term lower low still possibleTrade closed manually
Closing at 4010.1 with a gain of 0.7%.
Trade active
micro count in chart. Green zone has the target for this wave B. A breach of the green zone will increase the probability of a reversal
Trade active
still long from our greenzone 3950.2@ with stop loss on entry
Trade active
kicked out at entry. restriked @3947.4
Trade active
added 3927.1 avg entry @ 3937.2
stop loss 3918 risk 0.7%
Trade active
stop loss on entry
Trade active
Trade closed manually
Closed at @4040.2 Profit 3.1%Note
Staying flat now.. will update in next post
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Related publications
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.