OANDA:SPX500USD   S&P 500 Index
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!
Trade active: Scalping target as mentioned before has been just reached successfully! Now is the moment of truth!
Trade closed: target reached: 4,018.3 then drop?!
Comment: If you knew the magnificence of the three, six and nine, you would have a key to the universe. Nikola Tesla.
Trade active:
Green Candle Trading - GCT

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Comments

Nice ATH call for sure.
+4 Reply
@ProfitHarvest, Thanks buddy :)
Reply
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.
+4 Reply
@Captain_Walker what do you mean by that sir
+2 Reply
@Captain_Walker ?please explain in detail
Reply
@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 https://www.newtrader.club/2019/05/29/bonds-what-they-are-and-their-importance/ - but I'm still not sure that's very accurate.
+1 Reply
Captain_Walker Captain_Walker
@Captain_Walker, This may give some degree of insight. https://youtu.be/bUDJmdQqy7g?t=768
Reply
@Captain_Walker matter of time bro 👌🏻

These moon boys will be crying lol
+2 Reply
michaeldobfx Captain_Walker
@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.
Reply
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