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618

EURUSD Possible 2618 on the Daily So have been looking at other possible ways this pair could move. Now if we look at the Monthly Chart we have had our Double Bottom and impulse leg up and a start of a retracement. And will be looking for the 618 retracement to get long. This idea is all speculation but just a look at a possible path to how we might get there. So from the 4 hr chart we have seen some bullish movement and I feel that we will see a bounce up to previous highs of around the 0.79064 level. This would give us our double top on the daily and for this to be a 2618 type trade we are going to be looking for that impulse leg down to the 618 level and then the bounce up. As you can see with my trend line it shows where the 618 level on the Monthly retracement would be which imo would also be a fair assumption of where we could see this double top retrace to and then bounce.
Short
by Wonour
SPX500 Currently Resembling 2008 Chart: Will it Crash this Year?I first want to note that this is a speculative idea, I may be seeing what I want to see instead of what is actually on the chart. But, with that said, there appears to similarities between the 2008 chart and the current chart. Additionally, if you hover over the blue ovals - for lack of a better word - on the chart, they should provide some context. Both periods have head and shoulder tops, and it appears that approximately 1800 will act as a short term double bottom, which is similar to the 1260 short term double bottom in early 2008. If the index rejects 1945, then I'm expecting a rough version an inverse head and shoulders to form, but I'm actually not looking for this to happen. Rather, I believe the market will push through the .382 fib level, and hit the .5 retrace before mid March. From there, if we roughly follow 2008s pattern, the index will hover around the 50% retrace until the 200 MA meanders down to around 196, at which point the market would reject the moving average and proceed to crash over the rest of the year. The theoretically, but I believe likely, coming 200 MA rejection may happen sooner if the market pushes through the 50% retrace and gets to the hits the golden ratio 61.8% retrace at 1997.7, which is in essence the massive resistance level of 2000. This immense resistance, if the index gets there, should reject barring any radical change in geopolitics. Finally, if you compare the current SPX500 Index chart to the oil chart posted below, you'll see roughly comparable already formed and head and shoulders with a descending neckline on oil. Of course, oil broke through the neckline that was formed, and dropped very significantly quit quickly. Again, all of this is speculation, so do not trade by it unless history repeats itself and patterns confirm
FX:SPX500
by zkstonks
4