A lot of FUD from the FED meeting today. However, this was an important week for the SPX and markets. Everything has already been priced in.
The SPX has now printed a bullish engulfing on the 4h. Although not as powerful as others I have seen, it is still a bullish sign.
In my opinion, we are in the process to create an inverted head and shoulder.
It is now forming the right shoulder.
The retracement was precisely at 50% of the previous wave cycle, and it has also stopped at the end of wave 4 of the last cycle.
I am now expecting a good bounce from here with this nothing burger news from the feds today.
The following month should be good, eyeing 5130 as a target setting a new ATH.
Remember, markets can always turn, and I can be dead wrong, so I will place a nice stop loss to protect my eventually sorry ass.
Although sharing ideas, bullish, bearish, and targets the crucial component of a successful trader, it is a perfect risk management strategy...so do not sleep on it and educate yourself.
FOLLOW ME, SHARE, LIKE AND COMMENT
The SPX has now printed a bullish engulfing on the 4h. Although not as powerful as others I have seen, it is still a bullish sign.
In my opinion, we are in the process to create an inverted head and shoulder.
It is now forming the right shoulder.
The retracement was precisely at 50% of the previous wave cycle, and it has also stopped at the end of wave 4 of the last cycle.
I am now expecting a good bounce from here with this nothing burger news from the feds today.
The following month should be good, eyeing 5130 as a target setting a new ATH.
Remember, markets can always turn, and I can be dead wrong, so I will place a nice stop loss to protect my eventually sorry ass.
Although sharing ideas, bullish, bearish, and targets the crucial component of a successful trader, it is a perfect risk management strategy...so do not sleep on it and educate yourself.
FOLLOW ME, SHARE, LIKE AND COMMENT
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.