More of a forex and crypto guy but today the SP:SPX caught me eye for nice 2 month short to 2200. Ill update you guys as we go. If you would like a more in depth reasoning please feel free to leave a comment below.
Hi traders, i've been following this trend for a while, the pattern is still valid. D point as you can see here will be more preciese once we reach C point. Drive safe
Our preference: position bought above 2415,00 with targets at 2431,00 & 2436,00 in extension. Alternative scenario: in break of 2415,00, a continuation of the drop will be envisageable with 2410,00 & 2404,00 in line of sight. Comment: The RSI is mixed with a bullish bias.
Our preference: position bought above 2414,50 with targets at 2433,00 & 2442,00 in extension. Alternative scenario: in break of 2414,50, a continuation of the drop will be envisageable with 2406,00 & 2397,00 in line of sight. Comment: The RSI is mixed with a limited bullish bias.
SPX 1h , BEAR DVG, Fake break up big resistance 236xish ? Maybe down in triangel again, down retest Ichimokucloud 235xish... ?
SPX 1h down in C in (4) >> fib.ext. 1,618 = 2338
StoppLoss 2374.... weakness under that level, could be a bad sign. Will do another rethink of the bull/bear situation then, maybe with some updates here.... Will Ichimoku cloud support SPX at this price too ? Pivot 2384 could be some resistance....? Nothing is obvious in this situation, but I put the Hidden Bull dvg to do its job untill bear take over.
Bear dvg MOM, RSI, MACD in 15 & 30 min chart, at this 2297 hit..... just a suggestion if this could happen. I know my EW-labeling is probably wrong ?, but it's just helpful to use...and learning.
ENTER TRADE JUST BELOW THE 2125 PRICE LEVEL (1.618). STOP LOSS JUST ABOVE 2129 PRICE LEVEL. PROFIT TARGET 2109 PRICE LEVEL. STOCHASTIC IS BEGINNING ITS FALL FROM THE 80 LEVEL.