WaveAlchemy
Short

SPX500 DAILY BULL (INTERMEDIATE ALTERNATE 1 )

TVC:SPX   S&P 500
128 0 8
4 months ago
Hi all,

This wave count states that 1) minor B of intermediate 1 completed as a very shallow expanding flat and 2) minor C of intermediate 1 is near completion.

Price is located within minute 3 of minor C of intermediate 1.

Usually, wave C is equal to wave A in length. This will be target 2 for minor C. However, current price is located at 61.8% the length of wave A.

Building the case for 2200s to be the orthodox high, I would like to see minute 4 to begin unfolding here & now before reaching the critical level. This is because usually, if wave 3 is equal the length of wave 1, wave 5 tends to be extended. An extended 5th may propel wave C to equal wave A in length.
4 months ago
Comment: Here is a snapshot of how minor wave C blue may complete its structure.

This count states that 1.) minute wave 3 pink has completed its motive structure in which wave 3 is equal to 2.27 times the length of wave 1 and 2.) minute wave 4 pink is near completion as a contracting triangle.

I will allow the labelling for waves D and E despite the absence of the subdivisions. I

Confirmation = 2175.6

snapshot



________________
4 months ago
Comment: *COUNT INVALIDATED*

Price moved beyond the end of wave 4. The market failed to maintain above the high, creating a double-top. Wave 4 will be more complex.

This count states that minute wave 4 pink is unfolding as a complex correction, in which the first corrective structure appears to be a contracting diagonal, and the 2nd actionary corrective structure may unfold as a simple zig zag.

In terms of potential trade setups, if micro wave 4 purple forms a clear correction, I shall anticipate the next impulse wave.

snapshot







snapshot
4 months ago
Comment: Alternatively, one may count the subdivision of wave 4 pink as a regular flat given the double top. However it doesn't really matter, but it would be slightly inaccurate because wave A should really be a three wave structure, instead we have a triangle formation. We could however make the exception that what we're seeing is a triangle within a flat correction. In which case waves w and x would be relabelled as waves a and b, and the following c wave should unfold as a 5 wave impulse structure.

snapshot
4 months ago
Comment: If wave 4 has completed as a simple zig zag and has found a true resistance at structure and fib level, then this is a potential short setup in anticipation of subminuette wave 5 of minute wave c green.

snapshot
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out