and target should be in the 1820 zone...then.... let's take it from there.
But as always time will show..
Safe trading ladies and gents!
Music at work:
Thank you for your comment. If the SP can get up that fare 1230 I would say - using fib extension - above 1831,9 (78,6 fib retrace) and the SP could be heading much higher. Probably setting higher highs on daily - after a retrace for a second wave down.
But so fare the possible SHS setting up on daily over a 3 months period could very well be the top for many months to come - if not theeee top when also taken Feds tapering in to consideration.
On the other hand. Emerging markets are suffering from US dollars repatriation. This could prop up the US market.
On the chart I post underneath I see the 1818 being a possible top of a right shoulder.
Do you have any litterateur on three way drives to a bottom? I find it hard to find anything about expected targets for the pattern. What i'm looking for is some kind of statistic that says something about it. Thx! in advance! BMhttps://www.
Target area is between 1807 - makes the ABCD pattern - and 1817 makes the 1.27 fib extension. https://www.tradingview.com/x/https://www.tradingview.com/x/JQuA6owD//