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mikeoakster
26 מרץ 2017 19:56

Triangle or flat? 

S&P 500 index of US listed sharesFXCM

תיאור

Price went down as expected, and ended up making a new low, but did it by displaying a three wave structure, therefore, as I can't find any ending diagonal pattern there, it should mean subminuette wave iv will continue its path, and for that, a running triangle, regular flat or combination may unfold.

I favor the triangle or a combination with Y being a triangle, so that price doesn't reenter in the subminuette 1-2 channel (blue).

If my analysis is correct, after this correction is over, we'll get a motive wave to the downside in order to complete the impulse. At that time, market would decide if the correction from the all time high is over or if it continues unfolding as planned in my related idea.
תגובות
kunsan
Where you have (i) I have 'a'. Now it's declining in a probable wedge for 'c'. Likely target is in the 2315 area, after which I expect a significant rise towards 2590 to complete wave 3.
mikeoakster
Difficult to imagine your wedge, as I don't see any overlapping...
mikeoakster
Hi, Kunsan. Maybe you're right:

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