S&P500 all Possible ElliotWave counts for next week
Many people asked me what will happen if the invalidation level gets broken!
3 thing might happen next week:
1- the invalidation level never gets hit and we will have a crazy down trend (left chart)
2- the invalidation level will get broken. In that case we will assume that wave 3 is extended and you can see the scenario in the right chart. the price will go up to the invalidation level and then reverse.
3- the price will climb up until the triangle gets invalidated the we will have a bullish count.
I hope I could help to give you a clear picture of what might happen next week from a scientific point of view (not a personal point of view) based on the ElliotWave theory.
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response why I think the mark has to crash:
I always confirm my wave count with fibo and RSI or DPO.
This is the daily chart:
RSI confirms the wave count and also you can see a clear divergence , suggesting end of wave 5
wave 5 looks like a proper ending diagonal as well. That is why I am still on the bearish side.
I will not Update this post as it is just educational post not a live trading one. Live wave count will be available under my previous post
hope it helped
3 thing might happen next week:
1- the invalidation level never gets hit and we will have a crazy down trend (left chart)
2- the invalidation level will get broken. In that case we will assume that wave 3 is extended and you can see the scenario in the right chart. the price will go up to the invalidation level and then reverse.
3- the price will climb up until the triangle gets invalidated the we will have a bullish count.
I hope I could help to give you a clear picture of what might happen next week from a scientific point of view (not a personal point of view) based on the ElliotWave theory.
--------------------------------------------------------
response why I think the mark has to crash:
I always confirm my wave count with fibo and RSI or DPO.
This is the daily chart:
RSI confirms the wave count and also you can see a clear divergence , suggesting end of wave 5
wave 5 looks like a proper ending diagonal as well. That is why I am still on the bearish side.
I will not Update this post as it is just educational post not a live trading one. Live wave count will be available under my previous post
hope it helped