FX:SPX500   S&P 500 Index
120 3 1
It's been a tricky trading year so far and if I've learned anything, it's not to take a pattern for granted. While the PINK Crab remains valid - it's taking a lifetime to get to it's target. I'm always looking at shorter time frames for patterns to play and that will not change now. We have reached the Gartley PRZ which means - book at least some. If price does want higher the RED and PINK Crabs have similar targets, making upside far more compelling. But, today is not the day to establish a new long in indices IMO             . Interestingly, SPY             does not show the same Gartley/Crab. At best it shows a Butterfly with a different starting point which I posted last weekend.
I am in 50% cash, nimble the rest in strength :)
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Thank you for cautious comments.
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KLang PRO FutureMeDead
Not cautious, just be aware that there could be a retrace in this area and to look at shorter time frames for possible patterns to up or downside. It's been a tricky market and I think it's smart to not get complacent. Especially if you went long on Monday at the .886.
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