Hope this idea will inspire some of you ! Don't forget to hit the like/follow button if you feel like this post deserves it ;) Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum. You can check my indicators via my TradingView's Profile : @PRO_Indicators Kindly, Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
Hello Phil, sumastardon told me about you. I don't think your wrong at all. I posted a something about the stock markets 6 weeks ago, predicting that the bear market would start from that day on. I used the DAX to make that prediction. In my experience, the european stock market give a more realistic view of what will happen. I have similar thoughts as you have right now, only small difference is, i think we will still make a last small wave up, for the DAX around 12.800. Since the low i have been waiting for the wave 2 ABC to complete, think we are still in the final stage of wave C, than the big impulse wave 3 down should start. I could be wrong, looking at the US charts, that the ABC is already done. But i am betting on the DAX.
About if this is a big correction of a new bear market, i really think the economies are starting to overheat. I am experiencing it first hand, with my own business, with rising prices AND salaries.
I have been talking about these things for a while now, through predicting the EURUSD would go to 1.25 months ago, and oil prices going much higher months ago. All signals that things are looking worse.
If you want to talk about these things, just pm me
Slamo
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Thank you for your extremely professional and well considered ideas.
I look forward to future insights.
With respect and gratitude,
"May you drink deeply and never thirst" Michael Valentine Smith
TheLongBear
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Well spotted! I agree with you.
showmethat
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When BTC crashed, I also ran to look to see if any other markets were crashing and voila, saw the same pattern building up on the SPY as well as the marijuana index.
It'll be really interesting to see what comes up ahead - not a margin trader on stocks but already started hedging to inverse ETFs and gold.
Thanks for your videos! Always looking forward to what's on your mind.
PRO_Indicators
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@showmethat, too early on gold, dollar raising will impact gold pricings at short term. I'll buy slighly lower than the current prices. But I bought VIX ;) if this triggers both shoud make great returns !
showmethat
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@PRO_Indicators, you're right VIX is looking really attractive right now!
I am completely with you, I also saw a great shorting opportunity. I believe SPX will drop to the 1.272 retrace level at $2358. Coincidentally, this 1.272 retrace level is where the long term trendline (since early 2009) is gonna be around the 5th May.
I have been shorting since the first retrace @ $2784 however the trade was closed due to the 2nd retrace went above that price level. I did not see that coming, until you pointed out the similarity between SPX & Bitcoin. I would like to open a short position again, and set up my SL at $2810 & TP at $2360. It would be great if you could provide me with your advice. Thanks.