Hello traders, S&P 500 in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
According to the count, the main waves 1, 2 and 3 have been completed and the wave trend of wave 4 has started with the breaking of the line.
We have already said that we doubt the structure of Wave 4 and were hesitant between the corrective structure of the triangle and the zigzag
We said that if another descent is made beyond the previous floor, we will conclude that we are inside a zigzag.
It is probable that from this zigzag, wave a is formed as five waves and wave b is confirmed by breaking the trend line and moves around Fibonacci 0.618 and may go happily forward from this area and then another descent for wave c is formed.
If Fibo 0.618 is completely broken, we should look for another structure.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
According to the count, the main waves 1, 2 and 3 have been completed and the wave trend of wave 4 has started with the breaking of the line.
We have already said that we doubt the structure of Wave 4 and were hesitant between the corrective structure of the triangle and the zigzag
We said that if another descent is made beyond the previous floor, we will conclude that we are inside a zigzag.
It is probable that from this zigzag, wave a is formed as five waves and wave b is confirmed by breaking the trend line and moves around Fibonacci 0.618 and may go happily forward from this area and then another descent for wave c is formed.
If Fibo 0.618 is completely broken, we should look for another structure.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️