S&P500 Elliot wave ,bearish setup , Update2

well it crashed earlier than what I expected
The setup is clearly explained on the chart
I will keep you update here if anything changes

Kommentera:

wait for the 4th correction to finish and then sell

Kommentera:

the triangle was not confirmed
this is the updated model

Kommentera:

sorry wring chart hahahahhaha, that is for Bitcoin

Kommentera:

it seems the the 4th wave correction is finished

it looks like a flat.
however I am expecting the 4th wave correction to be much longer. there are 2 scenarios that I have plotted on the chart
the safest way is to sell after the breakout

Kommentera:

Confirmed, I am short

Kommentera:

Enjoy your free money :D hahahaha
move the stop loss down to break even in case of reversal

Kommentera:

I was expecting the wave 3 to happen but it was not what I was expecting.
I closed teh trade with some few profits.
this is the big Picture.

there could be couple of senarios:
1-we are having a 1-2-1-2 and then wave 3
2- wave 3 is unfolding as couple of 1-2s

For now I am waiting to see where the new correction ends, based on that I can decide what to do next

Kommentera:

what will happen is probably this :

Kommentera:

The first leg of the correction is over

Kommentera:

alternative wave count, if need to see if this wave is gonna have a 5th wave or not, base on that the whole wave count will change

Kommentera:

Kommentera:

last bearish model
if this fails then I am gonna consider an uptrend model