S&P500 Elliot wave ,bearish setup , Update3

٣٠ يوليو ٢٠٢٠

this is the last bearish model we can consider for now.

if It fails I will stay away from the market because RSI shows a divergence in daily chart and I dont like to buy a diverged market.

٣٠ يوليو ٢٠٢٠

ملاحظة

wave 5 of the y correction seems to be termination at the
1-fibo level
2- broken trend line
3- RSI resistance point

you can even consider shorting now as the stop loss is also very tight

٣٠ يوليو ٢٠٢٠

ملاحظة

By the way I have short the market already ;)
lets see what will happen

٣١ يوليو ٢٠٢٠

ملاحظة

٣١ يوليو ٢٠٢٠

ملاحظة

٣١ يوليو ٢٠٢٠

ملاحظة

don't rush to sell, there is bluish scenario which is strongly valid as well!!!
We need all to see several confirmations.

٣١ يوليو ٢٠٢٠

ملاحظة

I didn't expect the price to drop so quickly ! but everything is going based on the predication so far :)

٣١ يوليو ٢٠٢٠

ملاحظة

now that we have our first confirmation , this the the bearish setup

٣١ يوليو ٢٠٢٠

ملاحظة

now we have 2 scenarios, I have plot both on the same chart

٣١ يوليو ٢٠٢٠

ملاحظة

Unfortunately we hit the invalidation level
this is the new wave count

٣١ يوليو ٢٠٢٠

ملاحظة

The 30min chart will be this way, we have a wxyxz correction now

١ أغسطس ٢٠٢٠

تم حذف الأمر

I published the new post see that one for the recent updates