Wave structure analysis of SP500 index on daily time frame
Day swing is bearish => Current is pullback.
The current price is in the Supply zone of the daily frame. So we can look for a selling opportunity if the CHoCH reversal signal is given on the time frame less than 15 minutes.
The current price is in the Supply zone of the daily frame. So we can look for a selling opportunity if the CHoCH reversal signal is given on the time frame less than 15 minutes.
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Price has broken down to the Swing strong bottom of the 4 hour time frameNote
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Price drops and breaks through the Swing bottom of the 4-hour timeframe, thus the 4-hour timeframe turns bearish.Note
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The price continued to fall and broke the low.
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