OANDA:SPX500USD Looking for a 38% retrace level before the S&P has a true probability of bouncing back up to a significant level. Expecting rate hikes to "break" something, causing the FED to pivot and revert back to QE again, keeping the ponzi scheme alive a while longer until CBDC's are introduced and deemed mandatory.
Note: Not trading or investment advice. Entertainment only.
Trade closed: target reached
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.382% retrace complete. Target 1 acquired. Closing this trade for now, but will monitor the long - term trend to see how this plays out.
Why shouldn't or couldn't it go to the 0,5(3247,5) area???? Done it three times previously going down to base line....just a thought Thanks
Chartguru1
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I agree. I have 3585 but scary thing is that below 3500 lots of air until 3200. Nice chart. Kudos. This monthly candle will be a horror show. Hopefully October does a bullish engulfing to lower some of the over heated p/c ratios.
Thanks