SP500 might correct -80%-90% as in a large secular trend.
The Fibonacci golden ratio (commonly 0.618 or 61.8%) is a powerful concept in trading and is often used for identifying potential reversal or continuation zones. However, while it is highly effective, it doesn’t always work, as no tool or concept in trading guarantees 100% accuracy. Here's why: Why Fibonacci Golden Ratio Works: Natural Patterns: The Fibonacci ratio is rooted in nature and psychology. It reflects patterns that occur in financial markets as traders’ behavior often aligns with these ratios. Support and Resistance: The 61.8% retracement level frequently acts as a strong support or resistance zone where price reacts. Widely Used: Many traders use Fibonacci levels, which makes them self-fulfilling to some extent. Why It Doesn't Always Work: Market Conditions: Fibonacci levels may fail in choppy or sideways markets where clear trends or retracements don’t exist. Lack of Confluence: A single Fibonacci level without other confirmations (like trendlines, candlestick patterns, or volume) might not hold. External Factors: Sudden news, macroeconomic events, or unexpected volatility can overpower technical analysis. How to Make It More Effective: Combine with Confluences: Use Fibonacci retracements with trendlines, candlestick patterns, moving averages, or RSI divergence for higher accuracy. Check Market Context: Apply Fibonacci in trending markets where retracements are more predictable. Backtest and Refine: Analyze past data to see how well Fibonacci levels align with price action in the assets you trade.
The downward movement started but stopped in the last session; based on the sentiment of the individual ticker, movement can be seen to the upside, but not in the short term. I believe a mid to high 800 test is a solid retracement and a substantial area to buy.
Crash talk? Talk of manipulation and fake outs should have been anticipated weeks ago. Markets refusing to react appropriately after consecutive weeks of high cpi readings and then a super hawkish Jerome Powell speech was crazy work. Bitcoin is still in bull territory for this consolidation range. ? Many are calling crash already, lol. A 20% correction would be at 86k which is where the bottom of the consolidation is at on daily timeframe. That wouldn't even be considered a crash as 20% is normal for btc in bull environments. Areas of interets: Bullish mitigation block (the gray rectangle). Vwap: (green)Anchored below the Nov. 5th trump pump candle which is being tested 50 ema: (dark blue ema) being tested for first time on daily time frame ?I also anchored a volume profile at the Nov. 5th trump pump and value area low also coincidences with the areas of interest. ?Daily stochastic is oversold riding the floor and the daily rsi is below 50 with chance of making bullish divergences with prior lows
Emerging Bullish harmonic patterns are forming but i think there will be one last bearish move before we start the coming bull move . The break out of the triangle will determine the new direction of move
The 100 and 200 are very close, with buying indicators evident, not convinced about reversal, but they are coming close for the short term, observing the gap as close as it is.
INDEX : DXY ✔ Classic BULLISH formation DXY is holding continuous UP Trend so after market retracement I can take BUY entry . If your analysis matches it take a trade otherwise skip the trade. "? Show your love by liking & leaving a comment! Your support means the world to us! ?"
Hi traders, Last week Bitcoin made a new ATH and dropped. Now wave 5 could be finished and we could see a bigger correction down. Wait for price come into the higher Daily FVG. From there it could drop to the lower Weekly FVG. Let's see what the market does and react. Trade idea: Wait for price come into the higher Daily FVG and make a change in orderflow to bearish, After that you could trade shorts. If you want to learn more about trading ICT concepts with wave analysis, please make sure to follow me, give a boost or respectful comment. This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide trade signals. Don't be emotional, just trade! Eduwave
BINANCE:PNUTUSDT following a sharp decline, PNUT is showing signs of a powerful comeback. The chart reveals a classic reversal pattern, indicating the potential for a bullish surge. While Bitcoin remains flat, PNUT is taking center stage with a double bottom formation, signaling strength and an entry into the rally phase. The next big challenge? The resistance zone at 0.75. Breaking above this level and solidifying support could be the launchpad for an impressive ascent. Primary target is 1.0, next targets are 1.15, 1.35.
Spy retesting breakdown of trendline. Heavy buy volume.