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Thelaughingchartist

[Off the Charts w Mysfft] CPI and US FED interest rate decision US CPI data and US Fed Interest rate decision both falling on the same day. (This only happens 13 times since 2008!!) Here, I look to share my thoughts on how the CME_MINI:ES1! (S&P index futures) along with the USD Dollar Index ( TVC:DXY ) can be expected to move in light of the 2 important economic news. This is just me sharing from a top down analysis along with multi-asset point of view. Will be happy to see your comments and know your thoughts. ps. MYSFFT stands for: Master yourself, flee from temptation. Just like in the world of trading, it's always about mastering ourselves and avoiding the FOMO, GREED, TRIGGER FINGER, REVENGE TRADES. Its to be a misfit in the world of trading and to be a game changer. Cheers! Trade safe and stay safe peeps.
TVC:DXYLong
by laughingchartist
S&P [1-3 months view]S&P analysis: Where do we go from here? Despite the fund injection and emergency rate cut coming from the Fed to hold up the markets, the markets did exactly the opposite and fell lower over the course of last week. This is what I see for now: - If we have really completed a 5-wave impulsive EW movement up, then we are due for a 3-wave (a-b-c) corrective EW wave down. - The current drop that we see looks like a very strong a-wave. And what we can expect next is for price to do a b-wave bounce. - What this then means is that traders/investors should then expect a c-wave down to complete the 3-wave corrective move. - The EW structure that I pointed out was also confirmed with Fibonacci extensions and retracement ratios. (However I personally really put the supports/resistances at graphical levels because for me, price is king. What should we do? - Traders/Investors should take advantage of the b-wave to cut their losing positions or to lighten their portofolio load. And to better protect themselves for the c-wave down.
TVC:SPXShort
by laughingchartist