Harmonic Bearish Butterfly on SPX

SPCFD:SPX   S&P 500 Index
This is a Forex technique mainly, but when I saw it playing out I couldn't help myself. Impressed by the accuracy, caught today's peak almost flawlessly. Just messing around with this, plan on experimenting a bit more with harmonics in the future.


I wonder what the illumination might be if the bar's on the chart were Daily bars, not 15 min.

You can clearly see that the last price area was clearly outside the rising wedge pattern,
and the current price pattern is in " thin air", with a proverbial black hole below.

The proverbial downdraft possibility as seen here is very probable.

I really like what you did with this chart. The illumination is almost Total.

Please keep posting on this Harmonic way of charting.
If you could use the same methodology to longer term charts,
you might be able to catch a very significant move in the market.

+2 Reply
J-Streak The_Unwind
Gosh, I was just charting this myself- thanks for the confirmation! Closing my longs first thing Monday. Good luck!
J-Streak DaddySawbucks
your target broski?
J-Streak ZygimantasGruzdys
@ZygimantasGruzdys, my initial target was the 61.8 fibonacci line around 2842... just playing around on the intraday chart - the increment is only 15 min... experimenting lol
J-Streak ZygimantasGruzdys
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