SP500 bearish move based on AB=CD pattern with fib
Updated
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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