A false breakdown has formed at the lower boundary of the H1 range.
Accumulation-Impulse-Reverse Impulse-Accumulation. (Reversal design)
Medium term deal.
activation: 4427 (on the test of the second accumulation)
stop: 4407
tp-1: 4446
tp-2: 4485
S&P levels for monday
Go long above 4060 Target till 4080.
Go Short below 4040 Target till 4020.
This is my view and eduational purpose only ,trade with price action and at support and resistance levels.
Instrument coming below 200sma after making a top and smoothly sliding down in a downtrending channel taking support at fibonacci of .786 and .618 respectively in the previous lower high formation, looking to take resistance of .5, this time before getting back into the channel first to the mid of the channel AND second to the lower end of the channel, Its a...
3750 is the potential target on the short side based on the harmonic shark pattern and it also coincides with the fib level (0.5-0.618 zone), making it even more lucrative to initiate longs in anticipation of a reversal from the said zone. However, given the fact that the recent fall had no retracement whatsoever, a possibility of a retracement at the current...
The S&P is in its 5th wave from the high of 4327, nearing the confluence target area of 4085-4075.
Ideally wait till the entire 5th wave is complete (all the subwaves) and wait for a reversal to take a low risk entry.
Targets can be the mid 4200s.
New idea will be updated there
This whole rise has from 3693 low (yes, not the actual low at 3639. Refer: wave 5 truncation) has been a 3 wave move so far.
Wave 1/A has been a clear 5 wave followed by an extended 3/C wave with the iii of 3 extension.
The 3/C wave ended with wave 5 as an ending diagonal.
Now, the fall from the absolute high of 4327 has been impulsive so far with a series of...
S&P 500 E-mini Futures ES1! seems headed for a fall just long as it doesn’t break 4200.
All levels mentioned on chart and as follows:
Enter @ CMP 4140
SL @ 4200
Target @ 3940
Downtrend HVN near 4100. Confluence of descending channel in red line. 0.382 Fib also present here. Also acceptance back into prior ascending channel reference here blue line.
🔴SPX oversold. But its a relative term. Weekly RSI < 40 (34)
🔴SAR-Mean reversion system has given sell signal in weekly.
🔴Price trading below major moving avg in daily & weekly TF
🔴Below 3855 it can break swing low and head towards 3400
🔴JPMorgan sees levels of 3400 which is pre-pandemic highs.
On the Weekly chart in S&P 500 , I can notice Bearish Head and Shoulder Pattern , but coming week after this drastic fall maybe we can see some pullback to the neckline and then further collapse on the downside at least till the level I have marked that is 3491.25 SP:SPX
I expect this index to do this PA for the rest of the year if the situations are not too grim..
A good amount of relief, even tag new ATH before getting a good amount of further correction.
Can be wrong (duh), NFA
After a strong trend reversal, the price has broken through a major support zone, providing an excellent opportunity to short ES1! Investors, best of luck.
