SPX possible triangle progression (Elliott Wave)

٢٩ نوفمبر ٢٠١٨

The short setup suggested in the last post failed. The market moved straight up for what looks to be W.C of the suggested Triangle pattern .

As of now it looks like we are in corrective W.4 of W.(C) of this pattern.

Strategy : We wait for the completion of W.(C) to the upside in the white resistance zone . Once the same is complete we will look for reversal signs to initiate shorts.

٣٠ نوفمبر ٢٠١٨

ملاحظة

15 min. : W.4 either complete as a Running Flat or continuing as a Triangle, in either case expecting one leg up for W.5 and then a down move.

٣ ديسمبر ٢٠١٨

ملاحظة

1H : Sharp upmove suggesting the possibility that the upmove may be an Impulse rather then a W.C of Triangle, we need a break above 2818 for the same, untill then existing longs should book partial and trail remaining.

٤ ديسمبر ٢٠١٨

ملاحظة

15 min. : Looks like a Running Flat for W.b/ii :

٥ ديسمبر ٢٠١٨

ملاحظة

1H : Expecting move up for W.x/iv :

٦ ديسمبر ٢٠١٨

ملاحظة

4H : It seems we have just completed a W.x/b/i whichever the wave it may be a pullback is expected from here, hence longs can be added on a move outside the channel with SL a bit lower then the current swing low :

٧ ديسمبر ٢٠١٨

ملاحظة

15 min. : So far so good, looks like we have a corrective pattern to the upside :

٧ ديسمبر ٢٠١٨

ملاحظة

15 min. : Could be W.ii complete and W.iii down for impulse or a corrective continuation for W.x.