SPX Wave 4 almost over
Looks like a Flat and triangle combination for wave 4 (from Brexit), missed that in my earlier chart.
Will BTFD when we get back to the red line and make a new low, should not drop below sub-wave 4 of wave 3 though... (2147)
This last move up will be huge, at least 120 points. Wave 1 and 3 were similar in length (~120 points each), which probably means wave 5 will be extended and the pullback after will be huge... will have to look at longer TF to confirm.
Will BTFD when we get back to the red line and make a new low, should not drop below sub-wave 4 of wave 3 though... (2147)
This last move up will be huge, at least 120 points. Wave 1 and 3 were similar in length (~120 points each), which probably means wave 5 will be extended and the pullback after will be huge... will have to look at longer TF to confirm.
Trade active
opened SPY 219 calls last Thursday. looks like a ABC-W-ABC zig zag n flat combo with a 5-3-5-3-3-3-5. the touch of 2155 last week would have been the end of wave 4 and we are currently building wave 1 of wave 5. wave 1 should end 2200s and we will see a wave 2 PB (not sure how deep) where i will BTFD every week on weeklies if I see a chance.Note
currently completing wave 4 of wave 1 of 5. (complex structure)
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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.