WaveAnalysis
Short

SPX500 Short Trade Setup

FX:SPX500   S&P 500 Index
Hello Traders

We have a new all-time high on Dow Jones that I was waiting for the completion of its wave structure. The completion of the wave structure doesn't mean we will get reversals immediately, but I've started looking at short trade setups. Because after the finishing of the current upward impulse for a decade, we will get a huge correction. What we have here is divergences at the tops on different degrees and a broken trendline . My expectation is an up impulse as C wave for the completion of the running flat. Then I will go to 15m to wait for a small reversal impulse and correction to place a pending order. After that, we will see if it makes a correction over the green trendline or a huge down impulse.

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Trade with care.
Bulent
Thanks for the shared ideas!
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WaveAnalysis ajschmidt100
@ajschmidt100, My pleasure.
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