$SPX Dip-Buy Setup: ABC Correction Could Launch Wave 5 Toward 8,300

TRIGGER TRADES
11-13 15:06

$S&P 500(.SPX)$ $E-mini S&P 500 - main 2612(ESmain)$ $E-mini Nasdaq 100 - main 2612(NQmain)$ are showing bullish 5-wave structures.

The setup I'm watching is an ABC correction back toward today's low, or the 7,470 Daily FVG if the pullback is sharp.

That dip could set the stage for a multi-week Wave 5 rally toward the downtrend line, followed by potential targets at 8,000–8,300.

If you miss this pullback, you may end up chasing the move higher.

One member already captured this setup for a $3K long trade.

The Entry Confirmation

Patience was required — so much so that we ended up with two ABC models.

The eventual entry came after three key confirmations:

  • Confirmed M15 candle sweep

  • Confirmed ABC decline

  • SMT divergence with YM

  • CISD trigger to enter

The key is to wait for the correction and confirmation rather than chase price.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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