SPX - Did SPX Just X Wave? 👋🏻
Did SPX just X wave? 🤔💡
In connecting ABCs; an X wave will commonly retrace 0.618 from A to C which will often rise to the area of the previous lower degree B wave and this is pretty much what is on the chart.
Currently SPX is just shy of 0.618 but it has found resistance and printed a fakeout reversal through the 200DMA.
RSI topped in this area before and could be a clue and although there has been bullish divergence this can be realised in printing the X wave that may now be complete or near completion.
If it does carry on down then at this trajectory next ABC 1:1 target is 3856, though it could of course pick up pace and find a lower fib.
Not advice.
In connecting ABCs; an X wave will commonly retrace 0.618 from A to C which will often rise to the area of the previous lower degree B wave and this is pretty much what is on the chart.
Currently SPX is just shy of 0.618 but it has found resistance and printed a fakeout reversal through the 200DMA.
RSI topped in this area before and could be a clue and although there has been bullish divergence this can be realised in printing the X wave that may now be complete or near completion.
If it does carry on down then at this trajectory next ABC 1:1 target is 3856, though it could of course pick up pace and find a lower fib.
Not advice.
ملاحظة
For deep posts on SPX check NoOneWhoIsSomeone, - very good.
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.