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.
el_trader
a year ago
I needed that someone share the same chart than me. My wave 3 target in 1850 approximately. Thanks.
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FullTimeTrader el_trader
a year ago
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
a year ago
This analysis is working fine. :)
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FullTimeTrader el_trader
a year ago
Yes, be careful tomorrow we have news, i will consider moving SL to BE or taking partial profits.
Regards.
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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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FullTimeTrader Gummibear
a year ago
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
a year ago
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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sgcan
a year ago
congratulations
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sgcan
a year ago
after that long???
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FullTimeTrader sgcan
a year ago
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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sgcan
a year ago
Hello, yes early to think long, your chart the same with my expectations , reload congratulations
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