$SPX Tagged the .618 Extension Then Reversed
$S&P 500(.SPX)$ sold straight into the target. 🎯
The 5-3-5 model was calling for the bounce to get sold, and that’s exactly how it played out.
📐 Price tagged the .618 extension almost to the point — then reversed sharply.
That’s the key part of the setup.
C-waves commonly terminate around the 50%–61.8% extension of the A-wave, with the 90%–100% range also among the levels I watch.
The model projects those potential termination zones before price reaches them.
So when price hits the projected level and reverses, the setup is playing out according to the structure rather than simply reacting after the fact.
🔥 This is Elliott Wave 2.0.
Map the structure.
Project the levels.
Wait for price to confirm.
Then trade the reaction.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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