S&P 500 IndexShort
SPX: Where to Expect the Price Will Land?
Updated
I've identified several targets, and most of them have been reached… except one last one.
1. 100% symmetrical extension of the red box —> Reached.
2. 100% symmetrical extension of the orange box —> Reached.
3. 100% symmetrical projection from A to B, then projected from C. D = the target price —> Reached.
4. D barely served as a support. The price went through it directly without any proper pullback. Therefore, I expect the price to double the original force to reach D’.
- Be aware that in this final stage, price movements can become unpredictable and illogical. Finding a meaningful stop loss can be difficult, and if you do, it’s usually broad and uncertain.
- Thus, if you have a short position, hold it tightly towards the ultimate goal of D’. At the same time, set up a solid defense line to protect your profits.
- Personally, I’ll set my stop loss at D, the original target price and the previous high. If the price takes out the current low and forms another lower high, I’ll move my stop loss to the new lower high.
Not Financial Advice
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
1. 100% symmetrical extension of the red box —> Reached.
2. 100% symmetrical extension of the orange box —> Reached.
3. 100% symmetrical projection from A to B, then projected from C. D = the target price —> Reached.
4. D barely served as a support. The price went through it directly without any proper pullback. Therefore, I expect the price to double the original force to reach D’.
- Be aware that in this final stage, price movements can become unpredictable and illogical. Finding a meaningful stop loss can be difficult, and if you do, it’s usually broad and uncertain.
- Thus, if you have a short position, hold it tightly towards the ultimate goal of D’. At the same time, set up a solid defense line to protect your profits.
- Personally, I’ll set my stop loss at D, the original target price and the previous high. If the price takes out the current low and forms another lower high, I’ll move my stop loss to the new lower high.
Not Financial Advice
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
Note
The low was taken out just now. We can adjust the stop loss level to the new prior high.
Disclaimer
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