Thursday 20 March 2014

SPI 200 plunging

Hi Traders,


Here is a nice setup supported by a trigger of the wave oscillator.
The SPI200 (now at 5327) is moving South to the targets displayed in the weekly chart below.


STOP LOSS

initially stop loss: 5486
then
trailing stop: 94 points

NOTE:

Drop your stop loss and set your trailing stop within few minutes.

TARGETS

likely: 4994-4953
possibly: 4836-4816
maybe: 4570-4563

ELLIOTT WAVES

As you can see in the monthly chart below The SPI200 performed wave 3 up followed by a double top with wave b. The latter will be followed by c, d and e on the way down. 




SPI200  monthly - click to enlarge




SPI200  weekly - click to enlarge




SPI200  daily - click to enlarge




SPI200 : wave oscillator overimposed to a daily chart - click to enlarge




SPI200  4-hour - click to enlarge




SPI200  1-hour - click to enlarge