MaximGrigorev
Long

The market is moving towards the channel support line.

FX:SPX500   S&P 500 index of US listed shares
57 0 3
Hello everybody. The market is moving towards the channel support line. Wave 3 is completed. Now here comes the process of forming a tapering triangle 4. In spite of different inner corrections formation characteristics of the trend waves, but they have one common feature –inner triangles 2 and 4 are comparably sized which mean that they are well visible on the one time frame charts. Therefore, the tapering triangle 4 will be positioned horizontally and the time of its formation will be slightly smaller than that one of the expanding triangle 2. The values of wave 2 and 4 must be related by Fibonacci on the time scale. But I think it does not happen. The matter is that the waves 1 and 3 must be related by Fibonacci on the time scale. But pay attention to the chart please. Here wave 3 has not reached the desired Fibonacci level. Therefore, I think the wave 4 will be completed near the level of Fibonacci 0.764.The exact ratio of waves 2 and 4 we will not see. The structure of the wave 4 tells us the time of its completion. I am showing all the tiny details of wave 2. Expanding triangle 2 received the distortion during its formation. Here wave C has not reached the desired level. On the chart the E-mini s&p500             market did not cover the required level .Ten points. I made them conditionally. Look what happened. Now, wave 2 is a classic expanding triangle. In the Expanding triangle 2 the total amount of all the waves is equal to 21.3+5+3+5+5 =21 is a Fibonacci number. But that's not all I wanted to say. The fourth wave never reaches the price range of the second wave, in other words, waves 2 and 4 in the trend should never overlap. At this point in the chart, we see a violation of this rule. I do not like it , but another explanation of the situation I do not see. Expanding triangle 2 received the distortion during its formation. I want to say that at this place in the chart, we see a tapering triangle. But it will be distorted, too. I wish you good luck in your business transactions.
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out