Hello traders!
As per previous posts on the SPX, we were tracking a corrective primary wave (B) to the upside developing from the October low. The price action looks like a corrective double zig zag and is reaching a significant resistance area after its completion, forming a bearish wolfe wave as showed in the chart. If the contractive monetary cycle requires a bigger correction, this is the area where we the setups are going to appear.
We will closely look for a short entry after WW activation and retracement.
We will update here!
Bests,
GMR
As per previous posts on the SPX, we were tracking a corrective primary wave (B) to the upside developing from the October low. The price action looks like a corrective double zig zag and is reaching a significant resistance area after its completion, forming a bearish wolfe wave as showed in the chart. If the contractive monetary cycle requires a bigger correction, this is the area where we the setups are going to appear.
We will closely look for a short entry after WW activation and retracement.
We will update here!
Bests,
GMR
Trade active
shorted @4313 sl 4329
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.