FullTimeTrader
Short

SPX500-following my plan-wave 2 finished

FX:SPX500   S&P 500 index of US listed shares
2447 11 25
Hello, according to my count wave 2 green seems to be finished.
I expect a final decline for wave 5 red circled. As always ema 55 is confirming this count.
Invalidation level above 1996.
Be careful tomorrow we have heavy NFP news.
Regards.
Hello, yes early to think long, your chart the same with my expectations , reload congratulations
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after that long???
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Helo, hard to say now but long term my bias is long, see my related idea
SPX500-The stock market is crushing as expected. What
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congratulations
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Nice chart! But isn't wave 4 a bit short (in time), compared with wave 2? Have you considered the option that wave 4 could form a triangle or something similar? Like the correction in August 2011 for example. In any case, you might look for some confirmation that we are really already in wave 5 down.
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Hello, yes off course, wave 4 could be a triangle or more complex, but i would not wait until that, just my trading style. I have this trade open, took partial profits and moved SL to BE, watching close price action and keeping my mind opened to other scenarios. If i have another confirmation for wave 4 finished i will add more positions. Regards.
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Gummibear PRO FullTimeTrader
Hello, you may be right after all - looking at the price action in the ES futures following the jobs report... If it's a triangle, and a somewhat symetrical one, then we should not dip much below ES 1915. We'll see.
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I needed that someone share the same chart than me. My wave 3 target in 1850 approximately. Thanks.
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Good luck!! My SL is already on BE. I opened only one position because im already short on USDJPY, they are positive correlated. Regards.
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el_trader FullTimeTrader
This analysis is working fine. :)
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