SPX is approaching our first resistance at 2703 (100% fibonacci extension , 76.4% fibonacci retracement ) and a strong drop might occur below this level pushing price down to our major support at 2406 (76.4% fibonacci retracement , 61.8% fibonacci extension ). RSI (34) is also approaching resistance and we might see a corresponding drop in price should it react...
The method / strategy I apply to charts is far from in-depth TA (such as Elliot Waves, Gann, Wyckoff, etc), yet its simplicity makes it quick and effective when in a position or looking to make a quick swing/scalp. That said, there are progressions and trends I'm aware of that exist on every time frame. The same logic applied on this 12M chart is the same logic...
SPXUSD is approaching our first resistance at 2631.0 (horizontal pullback resistance, 50% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 2521.30 (horizontal pullback support, 38.2% fiboancci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop...
Key levels to look out for when analysing SPX, please refer to our 4 hour chart for a strategic view!
Just to update. Will link to other posts. PE ratio has now dropped 18% since January. Will do an EW count and post that too.
SPXUSD is approaching our first resistance at 2631 (hroizontal pullback resistance, 50% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 2521 (horizontal pullback support, 38.2% fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Short term Elliott Wave view in SPX suggests that the decline to 2346.58 ended wave (3). The Index is currently correcting in wave (4) as a double three Elliott Wave structure. Up from 2346.58, wave W ended at 2520.27, wave X ended at 2443.96, and wave Y remains in progress towards 2619.58 – 2727.95 area before Index resumes lower or pullback in 3 waves at...
SPXUSD is approaching our first resistance at 2534.1 (horizontal pullback resistance, 100% fibonacci extension, 38.2% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 2344.0 (horizontal swing low support). Stochastic (34,5,3) is also approaching our first resistance where we might see a...
Key levels to look out for when analysing SPXUSD. Please refer to our 4 hour chart for a strategic view!
Just an update Entered a short trade on the 3rd Dec and will look to take profit soon in order to re-enter for the 5th wave of wave C down. Sorry about my wave degrees, I just prefer the smaller degrees to avoid clutter.
SPX is approaching our first resistance at 2508 (100% fibonacci extension, 38.2% fibonacci retracement) and a strong drop might occur pushing price down to our major support at 2379 (61.8% fibonacci extension). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin...
SPX is approaching our first resistance at 2508 (100% fibonacci extension, 38.2% fibonacci retracement) and a strong drop might occur pushing price down to our major support at 2375 (61.8% fibonacci extension). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin...
Good day folks, Based on my monthly chart describing the H&S SPX is in, I am expecting another significant drop. (You can look at them for further info) So basically, I am looking at 267.70 for my short entry (optimal, could be lower/higher) with a target of 252 to 255 . The target is also the low where I am expecting a reversal long, but I will post it...
SPX has broken below Oct 30 low (2603.54), i.e. Black wave ((W)), opening further downside with incomplete bearish sequence from Sept 21 high (2940.91). Near term Elliott Wave view suggests the decline to 2603.54 on Oct 30 low ended black wave ((W)). Bounce to 2815.6 ended black wave ((X)) as a zigzag Elliott Wave structure. Up from 2603.54, blue wave (A) ended at...
Key levels to look out for when analysing S&P 500.
SPX500 is approaching our first resistance at 2822 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, Horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 2622 (100%, 61.8% Fibonacci extension, Horizontal swing low support). Stochastic (89,5,3) is also approaching resistance and we might see a...
For now im playing this setup on SPX closed my short from 278 at 268 and longed at 268 golden zone, as of now i still feel a possibility for SPX to jump to new highs of 3000 before falling off as EW suggest this is the only way to me that i can count the 5th wave in a generally reasonable way, only thing stopping this is an algo which has pulled at the previous...