SPY/SP 500 Monday 4-6-20
Stopped out at 2565 last night, because that should have been the high of my supposed 2 wave. After last nights price action, a 5 wave impulse down is most likely wrong so I had to rethink it.
This correction appears to be a WXY - and X may want to get to about 2610 before reversal. That may happen this morning. Afterwards, we should start pulling back to the blue or red trendlines within a few days. Then we can have a larger wave up after that. I don't think we just go on making higher highs from 2600, but it's possible.
Also, at this point I'm not expecting to test the bottom anytime soon. It's been a difficult correction to map, but if we fail today above 2600 it should be clearer the WXY is playing out.
Good Luck in your trades!
This correction appears to be a WXY - and X may want to get to about 2610 before reversal. That may happen this morning. Afterwards, we should start pulling back to the blue or red trendlines within a few days. Then we can have a larger wave up after that. I don't think we just go on making higher highs from 2600, but it's possible.
Also, at this point I'm not expecting to test the bottom anytime soon. It's been a difficult correction to map, but if we fail today above 2600 it should be clearer the WXY is playing out.
Good Luck in your trades!
ความคิดเห็น:
adding some shorts slowly over 2600
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as of now this is looking like a large ABC correction, with B finishing today. I will update soon
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This is what it looks like for me. It could be wrong, so please be careful.
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Most likely in another channel with an overshoot, this could creep up the rest of the night to finish wave.
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Channel "may" have broken down after a double top...
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Channel may have completed this morning. Maybe yes, maybe no. I'll be busy with some other things today, so probably no updates. Good luck all
