We all know that S&P500 experiences a strong bullish trend. How could we join?

m15 Chart

The waves of m15 are plotted with orange lines. You may see a 3-wave bearish structure that was developing on July 21st. The lime line shows we are having the A wave down on H1 and it means H1 is providing a support for m15. Awesome Oscillator of H1 (AOx4 on m15 chart) also confirms this. So what could we expect further? There are 3 options:

  • 4th correction up wave on m15 to be followed by 5th impulse down
  • b correction subwave inside C down on m15
  • new a wave up on m15

If we consider to buy, we have to look for a new wave up on m15 then wait for its respective b and jump into c. At the current moment there should be 2 main conditions:

  • new a wave on m15 should be supported by its older chart that is H1 for m15
  • this new a wave on m15 should break the blue dashed slope channel protecting the orange abc down on m15.

m5 Chart

If we have a look at a smaller timeframe – m5 (drawn with blue lines) – we may see that the new wave up on m15 is composedĀ of theĀ 3-wave abc on m5.



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