"All human activities have three distinctive features: pattern, time and ratio - all of which observe the Fibonacci Summation Series" (R.N. Elliott - "Nature's Law - the Secret of the Universe" - 1946)


Monday, September 3, 2012

SPX - Seems to be a temporary stop

A cross between a Fibonacci retracement 38.2% and the down channel line of the bullish trendline has so far stopped the bearish movement.
The pattern does not seem complete, the x wave could be in progress like a triangle; I think it lacks the third bearish wave y
Next target where there are 2 Fibonacci price clusters: in 1390 area and, if the market breaks down, in 1365 area.
Have a great trading day...with care!


l'incrocio tra un Fibonacci retracement 38.2% e la parallela della trendline rialzista ha per ora fermato il movimento ribassista.
Il pattern non mi sembra completato, l'onda
x potrebbe ancora essere in corso ed essere un triangolo; penso che manchi la terza onda ribassista y
Prossimi obiettivi si trovano in corrispondenza dei 2 Fibonacci price clusters:  in area 1390 e, se il mercato non tiene, in area 1365.

Buon trading...e prudenza!

No comments:

Post a Comment