Hello traders, S&P 500 in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
In the indicators, because the movements of the waves are always upward and its corrections are very short compared to the forward movement that is done, no relation between the waves can be detected.
Therefore, we consider the beginning of new waves after the biggest correction in terms of time.
After the largest correction, we counted an almost normal wave 1 and a not-so-excellent wave 2, and considered the rest of the waves to be related to wave 3, and it was only in this scenario that we were able to make a connection between the waves.
Wave 3 is probably made up of 1, 2, 3, and 4 microwaves, and now we are inside wave 5.
In the previous analysis, we said that if the end of the previous wave is broken, the motion will be different and so on.
From wave 5, this ascent is related to microwave 5, which according to Fibo must end before 4900 and start the correction by breaking the black trend line .
If the price moves more than the specified targets, this count should be doubted.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
In the indicators, because the movements of the waves are always upward and its corrections are very short compared to the forward movement that is done, no relation between the waves can be detected.
Therefore, we consider the beginning of new waves after the biggest correction in terms of time.
After the largest correction, we counted an almost normal wave 1 and a not-so-excellent wave 2, and considered the rest of the waves to be related to wave 3, and it was only in this scenario that we were able to make a connection between the waves.
Wave 3 is probably made up of 1, 2, 3, and 4 microwaves, and now we are inside wave 5.
In the previous analysis, we said that if the end of the previous wave is broken, the motion will be different and so on.
From wave 5, this ascent is related to microwave 5, which according to Fibo must end before 4900 and start the correction by breaking the black trend line .
If the price moves more than the specified targets, this count should be doubted.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️