Situation
------------------------------------------------------------------
- SPX touched and rejected from Key Resistance
region @ 4150
- Elliot Wave 1 to 5 completed
- MACD overbought near 80; histogram
shows weakening buy momentum
Strategy
-----------------------------------------------------------
- LIKELY RETRACEMENT to pocket 38.2-61.8% fib retracement zones
- BUY @ 3850 to 4000
TP @ 4500
SL @ 3800 (Below first higher low of elliot wave
2 + 61.8% pullback level)
Otherwise, buy low and never sell if you are a long term investor like me :)
goldroger
------------------------------------------------------------------
- SPX touched and rejected from Key Resistance
region @ 4150
- Elliot Wave 1 to 5 completed
- MACD overbought near 80; histogram
shows weakening buy momentum
Strategy
-----------------------------------------------------------
- LIKELY RETRACEMENT to pocket 38.2-61.8% fib retracement zones
- BUY @ 3850 to 4000
TP @ 4500
SL @ 3800 (Below first higher low of elliot wave
2 + 61.8% pullback level)
Otherwise, buy low and never sell if you are a long term investor like me :)
goldroger
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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.