BUY Entry on SPX Retracement
Situation
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- SPX touched and rejected from Key Resistance
region @ 4150
- Elliot Wave 1 to 5 completed
- MACD overbought near 80; histogram
shows weakening buy momentum
Strategy
-----------------------------------------------------------
- LIKELY RETRACEMENT to pocket 38.2-61.8% fib retracement zones
- BUY @ 3850 to 4000
TP @ 4500
SL @ 3800 (Below first higher low of elliot wave
2 + 61.8% pullback level)
Otherwise, buy low and never sell if you are a long term investor like me :)
goldroger
------------------------------------------------------------------
- SPX touched and rejected from Key Resistance
region @ 4150
- Elliot Wave 1 to 5 completed
- MACD overbought near 80; histogram
shows weakening buy momentum
Strategy
-----------------------------------------------------------
- LIKELY RETRACEMENT to pocket 38.2-61.8% fib retracement zones
- BUY @ 3850 to 4000
TP @ 4500
SL @ 3800 (Below first higher low of elliot wave
2 + 61.8% pullback level)
Otherwise, buy low and never sell if you are a long term investor like me :)
goldroger
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