Now there will be a correction. The last peak in the range 2250-2350 And the end of the economic cycle
We will see New All Time Highs in Global Markets Very Soon, (FTSE, Nifty are strongest indexes currently) Top 4 Reasons... 1. 60$ oil by June 2. Q E by Major Central Banks 3. Delay in Further Rate Hikes 4. Accumulation on Dips
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If we can put any faith in Harmonics patterns, then we can expect a drop in the SP500 to around the 1924 area. There is a near perfect Bearish Bat pattern forming here. This would indicate a 50% retracement is coming. The RSI and %R are very overbought also. Volume is dropping off.
The big blue arrow is pointing at a key price level which happens to intersect with the intra-bearish turquoise dashed line and the intra-bullish green dashed line. The intra-bearish turquoise dashed line is the longer-term trend over the shorter-term bullish trend as shown by the green dashed line. There is a horizontal ray at this key Fibonacci level (where the...
This is a longer term idea based off charting done from 2008 until now, and where we expect to go from here. For this interested, earlier today I did a shorter term outlook using daily candles, for those interested the link is: , or you can find it in my profile. Feedback and constructive criticism is always appreciated, happy trading!
SP500 Is building Energy for its next move......... Trade the Extremes.....
Frame your support and resistance. Know the geometry and technical levels that cause a response. Study the chart for "Repeatable Pattern" and exploit your edge.
Frame your trade is more important than what indicator to use or what line to draw.