Aug 11, 2015


UPDATE: Closer look of the triangle... I am curious if it will work out. Anyway a long trade around 2070 and stop is below the yellow line less than 10 points... good risk reward for a short term trade I think.

Higher yesterday, but the move lower today is too deep for the bigger triangle which I was showing.... I see another triangle:) five waves for wave "b" triangle and a-b-c zigzag to finish the last leg for an ED. With a=c the upper trend line will be hit and as long as the price stays above 2068 the scenario is valid. I think this is a good risk reward setup with clear defined stop.
If SP500 moves below 2063 I will start looking for another patterns... I wrote that there is plenty of them at the moment:)


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