SPY bearish Wolfe Wave M15
Updated
It's a bearish Wolfe Wave. The dashed line is the target line.
Note
Wolfe Wave seems to work. Now its climbing on low volume whereas the inicial descent from point 5 of the Wolfe Wave the volume was higher.Note
After the 50% correction of the initial down-movement the idea is to go short with a stoploss slightly above the 100% fibonacci retracement (e.g. 303) and a take profit at the 161,8 fibonacci extension.Trade closed: target reached
Target was reached yesterday.
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