SPX Weekly Is a Falling Knife until it hits 2745

S&P 500 IndexTVC

Description

⋅ Mar 7, 2020 1:46 AM

Bullish 5-0 Level @ 2745 and .618 retracement of the latest wave. Don't try to catch the falling knife until it hits that number. Until then, neither panic nor go long preemptively.

Harmonic Patterns 5-0 Pattern

Comments

Tradertoks

⋅ Mar 7, 2020 3:59 PM

That is an inverse ABCD not a 5-0 :)

Keegan

⋅ Mar 7, 2020 9:39 PM

@CalTrac, Although it makes the name somewhat incongruous, the 5-0 completes at the .618 when the ABCD extension exceeds the .50 retracement.

Tradertoks

⋅ Mar 7, 2020 10:13 PM

@Keegan, No, the 5-0 can only occur after a shark pattern. otherwise it is just an ABCD