Johnny_Yu
Long

Pending AB=CD to long S&P 500

FX:SPX500   S&P 500 Index
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4
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My previous projection failed as S&P did not go to 2188,but bounce back from Asian session highs of yesterday. As I mentioned, RSI is below 40 when retesting the area. so I did not enter the trade.

Reason to long S&P around 2158-2160:

1.hourly AB=CD

2. previous range lows waiting to be retested(it's fresh)

Target=estimated 61.8% retracement of projected CD( 2069.5 )

Profit Margin: above 4


RSI is below 40, can not enter the trade. patiently wait
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