On the S&P500 I see such a picture.
Draw a triangle in the wave [B]. In the short-term, a fall to (d) is likely. After the completion of the figure it seems to me a drop to ~ 2160 points. On the graphs below I will show the older timeframes and why exactly there.
In the long run current as a wave motion I see (4), after which follow growth and overhigh with the end of the wave (5) of 3.
An alternative is to grow from current values and form a wave (c) in the form of a 5-wave (pink arrows), followed by a fall.
As can be seen from the graph, the 2160 acts as a 0.618 fibo level. However, the end of wave 4 is quite possible and at the level of 0.786, since wave 3 has a stretching.
Draw a triangle in the wave [B]. In the short-term, a fall to (d) is likely. After the completion of the figure it seems to me a drop to ~ 2160 points. On the graphs below I will show the older timeframes and why exactly there.
In the long run current as a wave motion I see (4), after which follow growth and overhigh with the end of the wave (5) of 3.
An alternative is to grow from current values and form a wave (c) in the form of a 5-wave (pink arrows), followed by a fall.
As can be seen from the graph, the 2160 acts as a 0.618 fibo level. However, the end of wave 4 is quite possible and at the level of 0.786, since wave 3 has a stretching.
Note
Version of the fall is canceled - the price has exceeded the allowable zone for the development of the scenario.I expect the index to grow. The first target is the zone of 2870 pips.
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Related publications
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.