SP (Y20.P2.E2).Correction in play

2020년 4월 22일

Hi,

When it comes to the global markets and crypto, I do believe they are interconnected.
At times, when the stock market looks like performing well, for what ever reason eg. US gov. action, money is moved from one platform to another, to take advantage of the uptrend.
It would be the smart thing to do. Other times, if crypto is doing well and others are not so well, vise versa. At times, they are in sync, just like now.

As I stated in the past, it makes sense to keep an eye on this, gold and the NASDAQ

Its also like a game, isn't it, trying to forecast. So here is my attempt.

Note: The price action with the RSI is reflective of a bearish divergence.
Keeping an eye on the RSI trendline is one way of knowing when to short.


Cheers,
S.Sari

DAILY Chart

2020년 4월 22일

코멘트

Ref chart: C.Charts

2020년 4월 23일

코멘트

Some observations: how often does the AB=CD play out? It has a good change here as it has confluence with the 0.5 fib retracement on this impulse, as per chart or 1 on fib extension.

2020년 4월 23일

코멘트

There is a possibility for a cradle trade on this as well. If it develops into a good setup, I'll update this post. The condition it first needs to pull back to the 2730 support level again with another attempt on the 2800 resistance.
I'll have my eye on this and see how it develops.