Alpha Capital Wealth South Africa SP500

[20:38, 7/26/2020] 🐺 Alpha Capital Wealth 🐺: 1. 3230.0 POC Level
Valid for this week
Important S/R level
Above it on Monday bulls
Below it on Monday bears
Breakout area
Stay below is bearish
Get above is bullish

If it looks like a duck 🦆
Walks like a duck 🦆
Then it has to be a duck 🦆

2. 3190 key level
S/R
Multi time frame support

Let’s drill down 3189.20 gap left open and unfilled , it’s an important spot
They tested once and traded away
Friday they came to retest it again

Is it a trap ?
We need awareness
That’s why it’s important

They missed the gap
Not sure if it’s on purpose or if there is more to it

But we will find out exactly what can happen or will happen

That’s not support anymore
It’s a line in the sand

It’s not the same trade if price came into…
[20:38, 7/26/2020] 🐺 Alpha Capital Wealth 🐺: Put things into perspective
If and when the market does come down

Put your learning hat 🎩 on for a second

The low is around the 14/7/2020
Break up candle low
3120 give or take

It’s market symmetry this is part of the advance course.

Point a to point b to point a

In terms of price and time

3115-3116-3117

I’ll work it exact
[20:38, 7/26/2020] 🐺 Alpha Capital Wealth 🐺: We can’t trade off it but we will use it as a guide line as and when it’s required
[20:38, 7/26/2020] 🐺 Alpha Capital Wealth 🐺: This is a hypothetical bear case

We don’t know if the market will gap up or gap down on Monday

We are making assumptions here if the market does do that
[20:38, 7/26/2020] 🐺 Alpha Capital Wealth 🐺: If price reaches 3120 on the first attempt we expect the market to find support at that level

Why ?

Because it’s an important number

The bulls are expected to come out and defend that area

That’s a key line S/R level

[20:53, 7/26/2020] 🐺 Alpha Capital Wealth 🐺: It’s the tail wagging the dog

The market is the tail
The fed is the dog

The market wags the dog

The market decides what the tail does not the dog
[20:53, 7/26/2020] 🐺 Alpha Capital Wealth 🐺: In March when we crashed

The fed said they will print unlimited QE until the market stabilizes

So if the market realizes that the fed isn’t doing its job

The market will send a message to the fed to start wagging that tail

What tail ?

The money printing tail

That’s another awareness