As I expected in the previous idea, the S&P 500(
SPX500) started its decline from the Potential Reversal Zone(PRZ)[$7,632-$7,602] and marked its all-time highs right in that PRZ. After breaking significant support lines, the index began to drop—one key reason for this decline could be the escalating tensions in the Middle East.
Currently, the S&P 500 has broken a support zone($7,564-$7,551) and seems to have completed a pullback to that zone, forming an evening star candlestick pattern. We could expect further downside.
From an Elliott Wave theory standpoint, it appears that the S&P 500 is completing either its major wave 3 or wave 5.
I expect the S&P 500 to decline further once U.S. markets open, aiming to fill the lower Gap($7,496.20-$7,471.40).
First Target: $7,504
Second Target: $7,476
Stop Loss(SL): $7,573
Note: A sharp drop in the S&P 500 could also impact correlated markets like cryptocurrencies, especially Bitcoin(
BTCUSDT).
What’s your view on the S&P 500? Will it continue its decline, or could we see a new all-time high again?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 S&P 500 Index Analyze (SPX500USD), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
SPX500) started its decline from the Potential Reversal Zone(PRZ)[$7,632-$7,602] and marked its all-time highs right in that PRZ. After breaking significant support lines, the index began to drop—one key reason for this decline could be the escalating tensions in the Middle East.Currently, the S&P 500 has broken a support zone($7,564-$7,551) and seems to have completed a pullback to that zone, forming an evening star candlestick pattern. We could expect further downside.
From an Elliott Wave theory standpoint, it appears that the S&P 500 is completing either its major wave 3 or wave 5.
I expect the S&P 500 to decline further once U.S. markets open, aiming to fill the lower Gap($7,496.20-$7,471.40).
First Target: $7,504
Second Target: $7,476
Stop Loss(SL): $7,573
Note: A sharp drop in the S&P 500 could also impact correlated markets like cryptocurrencies, especially Bitcoin(
BTCUSDT).What’s your view on the S&P 500? Will it continue its decline, or could we see a new all-time high again?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 S&P 500 Index Analyze (SPX500USD), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
トレード稼働中
トレード終了: ストップロスに到達
Stop Loss was touched, but I opened another one near the PRZ, and TP touched.Risk-To-Reward(RR) is important.
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関連の投稿
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。