This is my 3rd attempt to call the correction peak for S&P500 or Nasdaq (I use them interchangeably). From the previous short idea using Nasdaq, I mentioned that the reason for the invalidation of the previous idea is due to the last wave 5 of C of Y to extend into a 5-wave structure.
Over here, the short position will be stopped out if a new high above wave Y is hit. I offered 2 conservative targets in this short idea and suggests that one can reduce position and shift stop loss when the first conservative target is reached. I also mention that if this WXY wave structure is the correct call, then the big picture is really that S&P500 will crash below 4800.
Good luck!
Over here, the short position will be stopped out if a new high above wave Y is hit. I offered 2 conservative targets in this short idea and suggests that one can reduce position and shift stop loss when the first conservative target is reached. I also mention that if this WXY wave structure is the correct call, then the big picture is really that S&P500 will crash below 4800.
Good luck!
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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.