S&P500 Short late US session tomorrow for maybe 2-3 Days
A disclaimer first: I am new here & still a novice to trading. Also, I don't understand much about Elliot Waves, except that I found Elliot's little booklet Nature's Law, 1946, wildly speculative (or esoteric, I should say), and philosophically misguided. Those who are interested in the mathematician Leonardo of Pisa (Fibonacci), might rather want to consult e.g. Morris Kline, Mathematical Thought Ancient/Modern, OUP 1990, vol I, 205 f., 209, 237, before making a judgment about the feasibility of Elliot's numerology, which he thought could be based on Mr Fibonacci.
That said, the chart literally cries for a correction. And given the waves so far & the range between the two trendlines, it might be a rewarding bet to place a short on the index. I myself will wait until tomorrow, say, 2PM ET, to check out how it's going. And if it begins going down, I'll be thinking about a short through the Asian session. If it continues to go well, I maybe hold it two, maximally three, more days.
Tight SL again; first T/P at Fibo 23.6%; second at 38.2%.
That said, the chart literally cries for a correction. And given the waves so far & the range between the two trendlines, it might be a rewarding bet to place a short on the index. I myself will wait until tomorrow, say, 2PM ET, to check out how it's going. And if it begins going down, I'll be thinking about a short through the Asian session. If it continues to go well, I maybe hold it two, maximally three, more days.
Tight SL again; first T/P at Fibo 23.6%; second at 38.2%.
Note
'Political' reasons same as in previous posts. Note also the last three lower Highs in the stochastic above.Note
Well, there goes my 'prediction'... tradingview.com/chart/g2BjzXV2/
Thus didn't open a short yet.
The Dixi runs pretty cool, though:
tradingview.com/chart/g2BjzXV2/
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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.