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zhipengcfel

Elliott wave analysis on SPX500 (2016-07-30)

Long
S&P 500 Index (FX:SPX500)  
zhipengcfel Updated   
FX:SPX500   S&P 500 Index
S&P 500 (SPX500) Elliott Wave analysis Parallel Channel
12
7
spx500 elliottwaves analysis parallelchannel
SPX500 confirmed a new impulsive wave after it broke out of the consolidation area.
Will SPX500 start the impulse wave or continue correction?
It was in a small flat correction for the last eight trading days. If it breaks out of the flat correction area, it will go up furtherer.
I will go long if it breaks out this area with SL at 2160.6
TP1: 2214.7
TP2: 2260.2
TP3: 2325.5

Good luck for everyone!
Trade active
Trade closed manually:
It is a false break. SPX500 will have a large correction following!
Comment:
Bull is coming back again after a quick wave c correction.
I am looking forward to hitting the TP1.

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zhipengcfel
Will SPX500 start the impulse wave or continue correction?
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