rising wedge 1hr Chart looking for bearish cypher retest E wave

Short

S&P 500 Index (OANDA:SPX500USD)

Updated

OANDA:SPX500USD S&P 500 Index

trendanalysis harmonicpatterns chartpattern

1hr chart-4hr chart im monitoring price action into this wedge. With CPI numbers due, i'm looking for a scam wick from E leg to sell off. Not a guarantee, as im still bullish overall to 4149-4300 level. also notice the wave count 1 (prev resistances became support), and that support level held 2x from A leg, and C leg (see 3rd wave) there are also a series of bearish cypher patterns. Previous B leg held (bigger structure) now look at the smaller bearish cypher pattern forming near the top of the wedge. As we approach the apex of the triangle, look for an inflection point. my target for this retrace is E leg, looking for wave 1 to hold support levels again.

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AD/money flow both already peaked at the height of the 830am price action for cpi

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4hr peaked

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possible

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price action held at 392.74, and bounced.. as we pushed towards the 2nd supply zone... I still see weakness. buying puts at 400, and selling calls below.. would love to see a gap up to 401.. will likely be out of puts by eod

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wont use price action look at the Ad in yellow. the ad and money flow showing a bearish head and shoulders pattern... approaching the apex of the triangle on the 15min chart. this continuation will lead to higher time frames until there is an invalidation of said trend..

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a-c-e sets up inverted head and shoulders on 4hr

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Trade closed: stop reached:

looking for traps to be laid here target reached closing shorts

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