Pending AB=CD to long S&P 500

2 thg 8, 2016

My previous projection failed as S&P did not go to 2188,but bounce back from Asian session highs of yesterday. As I mentioned, RSI is below 40 when retesting the area. so I did not enter the trade.

Reason to long S&P around 2158-2160:

1.hourly AB=CD

2. previous range lows waiting to be retested(it's fresh)

Target=estimated 61.8% retracement of projected CD( 2069.5 )

Profit Margin: above 4