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CoinedByCrypto
May 11, 2015 9:12 PM

SP "FADED" from the top 3 or 5 waves down? Short

FX:SPX50015
S&P 500 index of US listed sharesFXCM

Description

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Chart is done...worked.. Price has moved on Thanks for the thumbs up!!!

Corrective waves is a-b-c and not 5 waves.

I was looking for a 3 wave retrace down for a b-leg retrace, but looks more and more like a 5 wave structure.

Time will tell. Remember this instrument is a derivative of the SP500.
Therefore expect some differences.

Fear not... believe what you see and trade it.

@BLawrenceM

youtube.com/watch?v=zk3r-K8TQ5g
open.spotify.com/track/62oUgHSx7RPfgVWv1AYOpY
SP$sp500Elliott WaveS&P 500 (SPX500)
Comments
CoinedByCrypto
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Bought longs: twitter.com/TBLtraders/status/598123395935555585
CoinedByCrypto
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Long until friday...see here for further: twitter.com/BLawrenceM/status/598128210719674372
CoinedByCrypto
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Sold shorts twitter.com/BLawrenceM/status/598123181002592256
CoinedByCrypto
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Sold short... now long: twitter.com/BLawrenceM/status/598122077447704577
CoinedByCrypto
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ABC possibly done..see notation on chart: twitter.com/BLawrenceM/status/598099334429802496
DimaM.
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will I trade sp500 with 1 hour timeframe???
CoinedByCrypto
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Well I'm looking for clues of direction which eventually should establish confirmation zones. If you are not a very skilled trader I recommend you wait trading it until there is fully confirmation of direction. You could end up trading and not really gain anything but using your money on commision.
Welshman99
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Hello. I'm new and certainly not experienced, but isn't it acceptable to have a leading diagonal as an "a" wave.?
CoinedByCrypto
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The problem in using this instrument is that it follows the ES_futures so the view of trend lines is distorted over night . Push play on chart and you'll see. That said ... a clear abc has formed.. see my chart underneath Thanks!
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