SPXUSD (SNP500 / SPX) - Diagonal (Wedge) - SEELL ORDERS
Updated
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Analysis Summary:
Scenario 1:
Leading Diagonal in Minor ABC (blue), part of a larger degree Ending Diagonal in the next Bull Market run, before the Market Crash.
In this scenario, a deep pull-back should take place until the 50-61.8% Fibonacci Retracements.
Fibonacci Extensions from Minors A&B (Minor C projection) are synchronizing with the Wedge Formation towards 2885.00 levels, but also with the joining Bearish Divergence.
Scenario 2:
SPX ( SPXUSD ) Alternate Count (turquoise) has been labeled in an Impulse which presents an Extension in Minor 3 (turquoise).
This scenario puts SPX ( SPXUSD ) in a Minor 4 (turquoise) correction, which should honor the 23.6% or 38.2% Fibonacci Retracements of Minor 3 (turquoise).
Decision:
Scenario 1 is the preferred outcome and this is because the rising wedge does not belong in Minor 3.
* Both scenarios imply a bearish sequence as the next structure.
SPXUSD (SPX) - SELL ORDERS
Aggressive Entry @ 2885.00 with SL @ 2965.00
Moderate Entry @ 2915.00 with SL @ 2965.00
Conservative Entry @ 2980.00 with SL @ 3050.00
TP @ 2800.00 / 2750.00 / 2600.00 / 2550.00
SPX - 4H Chart
snapshot
* This idea is to be treated as simple Market commentary and not as an immediate investment advice.
Trade with care!
Many pips ahead!
Richard
* Related ideas show how I was able to call the BIG drops in 2018.
Analysis Summary:
Scenario 1:
Leading Diagonal in Minor ABC (blue), part of a larger degree Ending Diagonal in the next Bull Market run, before the Market Crash.
In this scenario, a deep pull-back should take place until the 50-61.8% Fibonacci Retracements.
Fibonacci Extensions from Minors A&B (Minor C projection) are synchronizing with the Wedge Formation towards 2885.00 levels, but also with the joining Bearish Divergence.
Scenario 2:
SPX ( SPXUSD ) Alternate Count (turquoise) has been labeled in an Impulse which presents an Extension in Minor 3 (turquoise).
This scenario puts SPX ( SPXUSD ) in a Minor 4 (turquoise) correction, which should honor the 23.6% or 38.2% Fibonacci Retracements of Minor 3 (turquoise).
Decision:
Scenario 1 is the preferred outcome and this is because the rising wedge does not belong in Minor 3.
* Both scenarios imply a bearish sequence as the next structure.
SPXUSD (SPX) - SELL ORDERS
Aggressive Entry @ 2885.00 with SL @ 2965.00
Moderate Entry @ 2915.00 with SL @ 2965.00
Conservative Entry @ 2980.00 with SL @ 3050.00
TP @ 2800.00 / 2750.00 / 2600.00 / 2550.00
SPX - 4H Chart
snapshot
* This idea is to be treated as simple Market commentary and not as an immediate investment advice.
Trade with care!
Many pips ahead!
Richard
Note
SPX turning bearish.Trade active
SPX preparing a drop. Let's see how deep it will be.
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