#ES #SP500 (Y24.P2.E1). A few scenarios

2024年8月8日

Hi traders,

I did short the rising wedge and now took profit. This can play out in a few scenarios in my opinion and its difficult to say.
Scenario 1) We have our selling climax that go the AR and this could be looking for our ST test phase B as part of the accumulation structure OR
Scenario 2) its creating a macro bear flag of some sort and we are saying here, a channel in orange for now, Part of a 5 wave count rather than a 3 wave count.

We have our ABC count confirmed as C hits our 1.618 fib extension but is it a 5 wave count. Bitcoin is in the same scenario in this perspective. Difficult for anyone to say.

So I will just trade the range until the puzzle is clearer.


All the best,

S.SARI


CUP and HANDLE Target hit - profit taking



ABC correction



Is it a wave 5 to the downside




Potential reversal scenario

2024年8月8日

註釋

I do a whole lot of explaining in my video yesterday.
youtu.be/jrtHaqcz2aA