SPX
"Tools belt?! - Checked...
Despite the rsi bearish divergence, there's an higher low and the price also break and close above previous structure high (higher close) possible signs of trend continuation based on price action. (testing resistance? - who know's!)
I do expect a retracement or a some consolidation on lower time frames, eventually to retest this resistance (now support) from both sides, above and below, but i also expect those 2.46% upward movement to complete the eventual Gartley, a little above what has already been published by KLang for instance. (Thank You - KLang).
In my opinion, the previous and most recent structure It is a little higher and im focus on that.
Bearish GARTLEY Sell when completed. IF = THEN ®
Point B:
61.8% can not touch 78.6% XA
Point C:
38.2% to 88.6% AB
Point D:
78.6% XA
127% ext AB
Target:
TP1 38.2% AD
TP2 61.8% AD
A special thanks to KLang that published her idea and has "forced" me to pick my tools ;)
Safe trades;
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2h time frame:
