effilang

S&P - Short Opportunity

Short
FOREXCOM:SPXUSD   US SP 500 CFD
There is an opportunity to short the S&P on 61.8 FIB retracement of H: 2874 - L: 2840, indicating commencement of Elliot Wave 3 on the 5 minute chart and lending power to the start of Wave 3 on M60.
We have a Wave 3 confluence on both time frames.

- Short entries may be initiated between 2862 - 2857
- Stop Losses should be above the swing high of corrective 2867 (short term) and 2874 (long term)
- Target Point A: 2875