Hellena | SPX500 (4H): Short to 38.2% Fibo lvl 5205.

OANDA:SPX500USD   S&P 500 Index
Dear colleagues, I think that the price has either already completed or is about to complete the impulsive movement in wave “1”, so I expect the beginning of correction at least to the area of 38.2% Fibonacci level 5205. It is quite possible that the price will update the high and reach the area of 5375 before starting the correction.

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Colleagues, I believe that wave 4 has started its movement, although we will know exactly about it today, because wave 4 may be a bit shorter than I think.
In the coming week, I expect an update of the high of 5328 with the aim of reaching the resistance area of 5375, then I will look for an entry point to a short position.
The price almost made a new high and now I believe that the probability of reaching the 5375 resistance area has become more likely. After updating the high, I will be looking for a short entry point.
The price is in a narrow range. This may indicate that there are fewer and fewer buyers. But an update of the high is still possible - the last push)
It looks like the high has been updated and now expect to reach the 5375 resistance area. Then I will look for a short entry point!
Dear Colleagues, the price did start a downward movement, before it updated the high of 5329.
This is good, but I do not recommend to exclude the possibility of updating the maximum again and reaching the resistance area.
In this regard:
I recommend to close some trades or should set trades to breakeven!
(Breakeven=Risk Free: Move Stop loss to the entry level).
Colleagues, the trades should be set trades to breakeven, so we are not worried if the price decides to retrace the high, but I still assume that in the coming week the price will retrace the low and start moving towards the 5205 target.
Colleagues, the price is making a correction. It is quite possible that the price may renew the maximum, but I believe that the probability is low and wave “5” has already ended.
Therefore, I expect the price to decline.
Colleagues, the price has almost reached the target range of 5205. I expect the scenario to end soon.
I hope that you should set trades to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
Dear colleagues, the price has almost reached the target!
If you do not want to take risks, you can close positions with a good profit, because correction is possible.
On the other hand, the correction may give us an opportunity to go short again)
Trade closed: target reached:
Well done!

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