SP500 Technical Analysis 19 September 2019 [Video]
|SP500 Technical Analysis
Elliott Wave: Still tracking two wave counts, first Wave iv) completed and Wave v), second The current sharp move up as Wave c of (b)
Trading Levels: the market is still held in place by SG1 and SG2. If SG1 becomes the support then the trade is long, if SG2 becomes the resistance then its a short trade
Trading Strategy: The current sharp move up will be in five waves either as Wave c of (b) or Wave (i), we need this to complete and then fold back to 3000 its only then we we understand to look for the long trade set up which is explained in the video or a short trade.
Peter Mathers tradinglounge.com - Empower your Trading take a 20 day trial?
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.