Success/Fail Targets for a 2nd HSi on the Daily SPX500
Simple HSi measured targets prediction.
We previously saw a failed HSi on the daily and made stops just below our 1x and 1.5x TPs 1 and 2.
Now, we see the same pattern again. On the chart are TP 1 and 2 / 1x and 1.5x measured targets for either, success or failure:
failure condition: if we drop and close below the right shoulder
success condition: if we rise and close above the neckline.
We previously saw a failed HSi on the daily and made stops just below our 1x and 1.5x TPs 1 and 2.
Now, we see the same pattern again. On the chart are TP 1 and 2 / 1x and 1.5x measured targets for either, success or failure:
failure condition: if we drop and close below the right shoulder
success condition: if we rise and close above the neckline.
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Update, closed below and continuing down atm. Must regain area above right shoulder or we're heading down to ~3375 and then ~3100:
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Last chance to turn around before reaching TP 1 of a failed HSi, possibility to shift up and make a W, but more likely continuing down to 3380 and 3110:
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SPX Keeps getting stopped here, if we turn up the W could play out and follow the orange arrow targets, but break and hold below and we're still headed down to 3380 -> 3110:
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Here's a rough drawing of potential paths from here:
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Potential for a reversal here if we don't continue down towards targets, RSI and Price are diverging on the 3 day chart:
