Hellena_Trade

Hellena | SPX500 (4H): Long to 5549 area (Wave "3").

Long
OANDA:SPX500USD   S&P 500 Index
Dear Colleagues, I believe that price will continue its upward movement to the 5549 area. I think that now the wave "3" of the higher order continues its active development.
Possible correction in wave "2" to the area of 5369.9.

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Comment:
Colleagues, I believe that the price will still reach the support area of 5369.9 in the coming week.
Then I expect the beginning of the upward movement to the area of 5549.8.
Comment:
Colleagues, the price has traveled quite a long distance, having updated the local high of 5449.6.
I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
Comment:
I believe that this week the price will reach the target of 5549.8. There may be a small correction, but then I expect the movement to resume
Comment:
Colleagues, this week I expect the script to be finalized. Now I expect the completion of a small correction after which the upward movement to the target of 5549 will resume.
Comment:
It is quite possible that the price has only recently formed wave "1". This means that wave "2" is just finishing its formation now.
That's great news. It means we have another chance to go long again!
Comment:
Colleagues, I expect price to reach the target before the end of this trading week. The price has completed the correction and has been in an upward movement for the second day.
Comment:
Dear Colleagues, Last week the price almost reached the target. I assume that closing some positions, if there are several of them, would be a smart decision.
But I still expect to complete the scenario and fully reach the target of 5549.8.
Comment:
For the second day I expect the local high of 5534 to be updated. The price has started an upward movement again, which means that this week we need to make a decision - either to close positions or wait for the scenario to be completed.
Trade closed: target reached:
Well done!

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