Finalising correction in SPX500 before a major move

23 ביולי 2019

Today I carefully studied minuscule movements of SPX500 for the past couple of days from previous low. I see it as a choppy sequence of 3-3-3 waves which gives me comfort that we are in the final stage of correction and downtrend will resume very soon. Unfortunately, I will not be able to witness the US session today but I would expect the price to drop at the US opening then surge within a couple of hours to complete ABCDE pattern only to drop again forming a bearish pinbar on 4H chart.

I will put a limit order to build up my position and move stops to just above previous high.

23 ביולי 2019

הערה

this count is corrected here