Yes based upon that view - but ES back above 4145 would be
warning and above 4165 could squeeze. As depicted below, I
prefer a down then up scenario. Trade your
plan
If this plays out with 5 waves down then that would be Wave 1 or
A - so will be looking for a bounce then a lower high under that
scenario. Wave 4 - not nearly as ideal as the previous
setups off the top
Monday's action really put a large dent into the ABC with price
extending well beyond the 1.618 ext for Wave C. Continue to
trade what's in front of your first and foremost in accordance with
your plan.
Steve are u doing todays newsletter. If so could you please give
a review of the SPX 10min chart once the wave 5 is completed. What
I am interested in is what the next move up could do into a "lower
high"?
SPX Intraday Views
Posted by steve on 23rd of Aug 2022 at 03:45 pm
$SPX - Chart Link - under this mapping sideways Wave 4 (just note the levels above)
$SPX - Chart Link - bounce Fib Set
$SPX - Chart Link - Gap is at 4122
$SPX - Chart Link - Fib Set
Steve, just so I'm clear,
Posted by DK on 23rd of Aug 2022 at 03:59 pm
Steve, just so I'm clear, based on your 10 minute chart mapping, it looks like you're expecting another move down probably tomorrow morning?
Yes based upon that view
Posted by steve on 23rd of Aug 2022 at 04:03 pm
Yes based upon that view - but ES back above 4145 would be warning and above 4165 could squeeze. As depicted below, I prefer a down then up scenario. Trade your plan
If this plays out with 5 waves down then that would be Wave 1 or A - so will be looking for a bounce then a lower high under that scenario. Wave 4 - not nearly as ideal as the previous setups off the top
Monday's action really put a large dent into the ABC with price extending well beyond the 1.618 ext for Wave C. Continue to trade what's in front of your first and foremost in accordance with your plan.
Steve are u doing todays
Posted by mundy on 23rd of Aug 2022 at 05:32 pm
Steve are u doing todays newsletter. If so could you please give a review of the SPX 10min chart once the wave 5 is completed. What I am interested in is what the next move up could do into a "lower high"?
See my post below as
Posted by steve on 23rd of Aug 2022 at 06:29 pm
See my post below as it will answer and listen tonight as I will certainly be discussing. Thanks
Thanks Steve. Still waiting for
Posted by mundy on 23rd of Aug 2022 at 03:58 pm
Thanks Steve. Still waiting for a flush down wick on the 10min chart to complete your 5 count.