My actual #SPX #EW count.
1/Can‘t see a finished correction of 3 yet.
2/possible and probable failed 5 in the extended 5 of 3 followed by strong reversal(A)
3/No capitulation yet
=we will see another wave down to sub 3200(minimum 3170)
But we might see some more pain for late bears in order to flush them out before.
Looking for long entries intraday/expecting...
It really starts looking interesting again... BUT..I guess we will have to have way more patience..maybe much more... like 2-3 years.
I´m in this area for some years now, and rebounds ´usually´ doesn't look like that. Especially not in the bigger timeframes.
Its turning pretty smooth...much too smove- no shakeout yet. But THIS will come..as it came always..
As you can see we are about to leave the downtrend. Have a look at the daily chart to have some better insight in the exact structure of the outbreak process. But for now I want to highlight the similarity between the price behavior right now compared to the last time we hit that similar price area.
Pretty much the same movement and also Volume shows at least...
Huge Volume Increase while possibly drawing an inverse head ´n´ shoulders.
Could just be some more confusion and irritation..I still will have a look on this.
What do you guys think about the British Pound at all?
Even tho there are not any good news expected from the UK in the near-future, I could expect some surprising movements in their currency pairs. This...