AbhishekHSinghCMT

US500- Get Ready-Thrust Upside Can Lead to Wave 3 Downside

OANDA:SPX500USD   S&P 500 Index
For Educational Purpose

Last Price- 3480 / 20:29 Hrs IST (Indian Standard Time) / 19th Oct2020


Wave (iv)- Penultimate wave -unfolding as a triangle then next wave should be the final thrust upside - only criteria is top @3588 should not be crossed for current wave count to be a valid count

Expecting
One push upside close to 3550/3570 to finish wave-(v) ( Crossing above 3506 highs)
Once wave-(v) done & holds below 3588 highs then we expect larger degree Wave-3 to unfold below 3588 tops

Wave 3 should travel 161% of Wave 1 distance downside giving us minimum target 3100 / 2950 later
Trade active: Not overlapping 3398 -suggest that wave 5 is pending upside

or

Any move below 3398 levels will indicate 3550 was the top for wave sequence

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

Yes, could be a last upside thrust,, let see
+1 Reply
Thrust didn't come but price followed the big arrow marked
Reply
@Shivam93, Please read the market updates
+1 Reply
Shivam93 AbhishekHSinghCMT
@AbhishekHSinghCMT, By Market Updates you mean your last update on this >> "Any move below 3398 levels will indicate 3550 was the top for wave sequence"
Reply
@Shivam93, Yes
+1 Reply
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