As stated before, the recent sell off was nothing but a corrective wave and I was calling for buys when everyone was selling..
I am not saying the market will collapse now but if does then it makes sense and there is enough evidence to support it! On the other hand, more ATH's still makes sense too! It's all about assumptions, biases and having a set up.
My current assumptions: 1- EDT and we are finishing the last Wave. Assuming that means that Wave 1 here is the longest and hence Wave 5 must be shorter than Wave 3 so it cannot under any circumstances touch 4,021.4!!! 2- Wave 5 (primary degree) = 1.618 Wave 1 (Primary Degree)
Disadvantage: Market can still go higher to 0.618 of Wave 1+3 to 4.1k
Invalidation: 4,021.4!
Short term: It can react to this major level and retrace to 3,872 so it can be used as scalping :)
GOODLUCK!
交易進行
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Scalping target as mentioned before has been just reached successfully! Now is the moment of truth!
交易結束：目標達成
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4,018.3 then drop?!
評論
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If you knew the magnificence of the three, six and nine, you would have a key to the universe. Nikola Tesla.
Wave 5 is just gamblers riding on the back of the FED. 🤣 They're all gonna be cleaned out. 😂 Most of them don't know and don't care what's happening in the Bond market. I'm waiting for a side-splitting laugh.
@gjgarima, The nature of the Bond Market is not easy to explain in text form. It dwarfs the stock market. The issues run very deep into the complexity of Bond yields and investor confidence in the economy, which is then nested in macro-economic cycles (which are very powerful and reliable). Then you have to research what happens with yield curves when going into and out of a recession. There are many good resources on the internet and on YouTube that explain this complex area. I tried to simplify Bonds and it was not easy newtrader.club/2019/05/29/bonds-what-they-are-and-their-importance/ - but I'm still not sure that's very accurate.
@Captain_Walker, Well I'm fully out of U.S. equities, been out ever since the GME debacle, I'm not touching anything that has to do with frenzy trading, which is practically every tech stock at the moment. I'm just hoping Europe and the UK doesn't follow suit when America comes crashing down.