S&P500 Elliot wave analysis,25/07/20 watch 3180$
The ending triangle tend line is broken. I will consider a bearish scenario and entering wave 1 of the reversal only if we break through 3180$
For Bullish scenario
1- Wait for the confirmation level(3180$) to break
2- You might see a pull back , sell if you see a sell candle in the pullback(usually happens at 50%-61.8% fibo ratio)
3- Stop loss at 3293.7$
** MAKE SURE YOU ARE NOT RISKING MORE THAN 1-3% Of YOU WHOLE TRADING ACCOUNT, THE AMOUNT OF MONEY YOU LOOSE IF WE HIT THE STOP LOSS MUST NOT BE MORE THAN 1-3% OF YOUR WHOLE CAPITAL***
For Bullish scenario
1- Wait for the confirmation level(3180$) to break
2- You might see a pull back , sell if you see a sell candle in the pullback(usually happens at 50%-61.8% fibo ratio)
3- Stop loss at 3293.7$
** MAKE SURE YOU ARE NOT RISKING MORE THAN 1-3% Of YOU WHOLE TRADING ACCOUNT, THE AMOUNT OF MONEY YOU LOOSE IF WE HIT THE STOP LOSS MUST NOT BE MORE THAN 1-3% OF YOUR WHOLE CAPITAL***
Trade closed: stop reached
