Overall medium term view of USD and US indices
US Indices, and SP500 in particular, are inside a corrective wave 2 in the cycle degree. We expect the correction will continue and we will see lowers lows. When the X in the primary degree ends (green X), we will be able to project the zone where this correction will end and when the price reaches this Inflexion Zone, we will buy the indices. There are 2 paths, in blue and purple, but in any case, the structure this correction is creating is a WXY.
This setup will be invalidated if the price does not break the precious 3,640 level.
The time when the US Indices reach the Inflexion zone can coincide whit the start of the bearish cycle of the USD index (USD will get weaker compared with the other currencies), which will favor the beginning of wave 3 in the cycle degree of the US Indices.
We analyze daily 40+ assets (forex, Indices, commodities, and BTC and ETH). Leave in the comments if you want us to provide a wave count for a specific asset.
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Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TRS team
This setup will be invalidated if the price does not break the precious 3,640 level.
The time when the US Indices reach the Inflexion zone can coincide whit the start of the bearish cycle of the USD index (USD will get weaker compared with the other currencies), which will favor the beginning of wave 3 in the cycle degree of the US Indices.
We analyze daily 40+ assets (forex, Indices, commodities, and BTC and ETH). Leave in the comments if you want us to provide a wave count for a specific asset.
Which format do you prefer, post or video?
Have a fantastic and successful trading day
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TRS team
Trading the Right Side team
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All our links: bit.ly/m/TRS
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