SP500 - One more push lower - Decent Risk/Reward Trade

We should see price go lower one more time for a wave 5
First Target wll be 2350 followed by 2260.
Entry can be made on this orange TL break or even right now if you can afford it.
Stop at 2621 or above this wave 4.
Price can go a bit higher and touch the black dot TL but should turn right after.

Note

Top coming very soon hopefully

Note

Pending order was filed at 2560 but was closed at break-even. We will look for an other potential entry at a better price.

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Note

The fact that price came this close to invalidation levels, make me think this might be an extend wave 3, meaning we will get a higher wave 2 before seeing price fall again.
OR
The move to the downside is over and we will see an ABC move up to 2700 or higher.

Both ideas suggest price will go up a bibt more, therefore, I'm holding all buy orders for now until things clear up.

ElliottWaveBelgium

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ElliottWaveBelgium

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
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Thanks !

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