LewisGlasgow
Long

S&P 500 - Bullish AB=CD BAMM

SPCFD:SPX   S&P 500 Index
Bullish AB=CD BAMM opportunity is now shaping up on the Standard and Poor's 500 index on the 4h chart.

This one to one measured move looks excellent, the AB=CD completion is beyond the ATH at 2877, this is complemented by the reciprocal ratio of 0.5 which is the 2.0 projection.

I'm expecting price to break resistance @ B followed by an acceleration in price action towards the pattern's completion. This move needs to be assessed in real time and we cannot use any limit orders, analyse price action upon the breakout of 2792 to determine the continuation.

We will be trading with a tight stop loss if executed, target is 2892.

You guys know what to do... Like, comment and share! I'll keep you all posted :)
Comment: Price has broke resistance at B, wait for the next 4h close and we can assess the strength of the breakout.

Comment: AB=CD BAMM making excellent progress, this is holding its symmetrical structure and it is likely we will see price reach 2892 by mid-August.
Trade closed: target reached
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FWIW, that's what I currently see hapenning on a bigger scale:
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Congratulation!
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@msamal316, thank you!
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You think it'll drop once hitting 2880? yuan value going down and every time it has fallen in the pass SPY crashes.
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LewisGlasgow JayJawsChen
@JayJawsChen, we will need to reanalyse this position once we approach the area
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The resistance has been broken again. Prepared to buy.
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@SRyu, nice!
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Good. Could be Reverse H&S and RSI shows hidden divergence too.
One concern is that target is too high. Taking profit at trend resistance and ATH could be good.
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LewisGlasgow MASOOD1364
@MASOOD1364, yes smaller AB=CD structure is possible, we could experience a false break in this situation.
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