Get started
Knurrem

SPY bearish Wolfe Wave M15

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
Knurrem Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Wolfe Wave
3
1
wolfewaves
It's a bearish Wolfe Wave. The dashed line is the target line.
Comment:
Wolfe Wave seems to work. Now its climbing on low volume whereas the inicial descent from point 5 of the Wolfe Wave the volume was higher.

snapshot
Comment:
After the 50% correction of the initial down-movement the idea is to go short with a stoploss slightly above the 100% fibonacci retracement (e.g. 303) and a take profit at the 161,8 fibonacci extension.
Trade closed: target reached:
Target was reached yesterday.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.