Trading in between the range of .886 (209.35) and .786 (206.27) levels
Possible ABCD Pattern to Point D for the Price Reversal Zone
Reversal at Point C to D
Took $CTRP at the reversal level at Point C and have projections at Point D. If it reaches Point D, will reverse once again.
SPY nearing the D point of the ABCD Pattern. Project 1.618 targets.
We have an Ascending Triangle on the 5 min along with a gap fill above $37.00 and bullish ABCD targets to C and then Short from C to D if it continues to follow through.
The Three Drives Pattern began to form with Higher Highs. At point 3 on top is the reversal.
So far reversing from C point well. Will continue to gauge it with the SPY.
C point was hit and now on 1 min there is a inverse pup on SPY giving support to the decision that SPY will go lower.
Took B reversal higher to 1.618
Continuation for the reversal from C. Not far from D for another PRZ
Took B Point Short with Projected CD. Should now want to reverse back up to D around 45.62. Stochastics are ready to cross up as well.
Took reversal on C 5 min
ABCD Formation with PRZ at D giving indication to short. Has been in play for 3 days so far.
Price Reversal Zone is near 197.50. We should see a couple more down days and then the reversal.
