Hi Traders,
The S&P500 (now at 1697) might be staging a Major Reversal on S&P500 as the Elliott Waves display an end-of-the-line pattern.
If this analysis is correct, we completed a typical pattern known as "the 5th-of-the-5th-of-the-5th-of-the-5th wave" which is, by definition, the best spot to start a major short.
The Wave Oscillator in the 4-hour chart shows a entry already (short). Not so from the the Wave Oscillator built upon a daily chart.
ENTRY
There could be a minor rally to 1700-04 or so (1-hour chart): wait for this minor pullback before getting in.
TARGETS
likely: 1596
possible: 1530
maybe: 1417
TIMING
Note the Timing on the daily chart. This reversal was supposed to be on Aug 3rd (36 days) which, unfortunately fell on a Saturday. Hence it was shifted to August 5th (38 days)
TRADING WORKSHOPS & ONE-TO-ONE
Please contact me if you want to make your trading profitable.
For more details check on www.fxtutors.com.au
Cheers. Mario D. Conti
The S&P500 (now at 1697) might be staging a Major Reversal on S&P500 as the Elliott Waves display an end-of-the-line pattern.
If this analysis is correct, we completed a typical pattern known as "the 5th-of-the-5th-of-the-5th-of-the-5th wave" which is, by definition, the best spot to start a major short.
The Wave Oscillator in the 4-hour chart shows a entry already (short). Not so from the the Wave Oscillator built upon a daily chart.
ENTRY
There could be a minor rally to 1700-04 or so (1-hour chart): wait for this minor pullback before getting in.
TARGETS
likely: 1596
possible: 1530
maybe: 1417
TIMING
Note the Timing on the daily chart. This reversal was supposed to be on Aug 3rd (36 days) which, unfortunately fell on a Saturday. Hence it was shifted to August 5th (38 days)
TRADING WORKSHOPS & ONE-TO-ONE
Please contact me if you want to make your trading profitable.
For more details check on www.fxtutors.com.au
Cheers. Mario D. Conti