SP500 bearish move based on AB=CD pattern with fib
Hi traders,
On the S&P500 I found this AB=CD pattern that lines up with the 1.272 Fibonacci extension of the recent swing upwards, that was initiated on my birthday.
Entry: 2189.8
Stop: 2207.6
Target: 2136.5 = R:RR 2.99
Note: Just an idea, not trading this.
Best of luck! Updates will follow.
On the S&P500 I found this AB=CD pattern that lines up with the 1.272 Fibonacci extension of the recent swing upwards, that was initiated on my birthday.
Entry: 2189.8
Stop: 2207.6
Target: 2136.5 = R:RR 2.99
Note: Just an idea, not trading this.
Best of luck! Updates will follow.
Trade active
Note
Adjusting target to 2150 based on the structure. This means the R:RR changes to around 2.00Trade closed: target reached
Took a while, but we finally got there.
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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.
Related publications
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.