Dual ABCDs (and alternates) for potential PRZ(s)
Our ABCD tool has provided some very tight potential PRZs for SPY in the days/weeks ahead.
By focusing on 2 key ABCDs currently in play, we have some insights as to where price may
turn should they be reached. I have added BC extensions (larger ABCD) for confluence.
NOTE: Please notice that the AC measure on the larger ABCD is .618. This could come into
play for a possible bearish Cypher/Shark depending upon the extent of the lower low in progress.
Basis SPY, it would appear the 247 area should be key assuming it is reached. I could envision it being
the end of a C wave or 3, with either an outright reversal or bounce for a w4. These are a couple
of possible outcomes.
By focusing on 2 key ABCDs currently in play, we have some insights as to where price may
turn should they be reached. I have added BC extensions (larger ABCD) for confluence.
NOTE: Please notice that the AC measure on the larger ABCD is .618. This could come into
play for a possible bearish Cypher/Shark depending upon the extent of the lower low in progress.
Basis SPY, it would appear the 247 area should be key assuming it is reached. I could envision it being
the end of a C wave or 3, with either an outright reversal or bounce for a w4. These are a couple
of possible outcomes.
Pernyataan Penyangkalan
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.