Hi Guys!
As we can see some time ago, I set a certain trend channel conjugated with three EMA 200/50/20 levels and Fibonacci levels, and recently the chart has been respecting this channel.
Further development of price changes directly depends on the DXY. In my understanding, if the dollar index breaks through the resistance level (which it did on Thursday) (but it is too early to judge since bears can push to stop losses and then start buying the dollar index)
We all perfectly understand that the market is simply pumped up by the FED and we must understand one thing, that someday this will all stop and after that, there will be an immediate correction.
Of the three indices (DOW / SPY / NQ), only NASDAQ showed a historical maximum, so we can assume that it is the most volatile of its counterparts.
On July 29, the FOMC press conference will set the trend for the further development of the cycle of the dollar index.
As a trader, I will wait for a strong impulse from the big players. But as a person, I still believe that the dollar index will go up to a strong correction to the level of 95.50 or even 97.75, in which case the NASDAQ will fall to 9000 and SPX to 3000.
In any case, we only need to observe. And as my Jewish friend told me " I cant promise you the future but I can show you past" )))))
PS. here are the thoughts of the author and in no way force you to trade. Stay Safe.
Support channel by pushing like button and comment down below.
As we can see some time ago, I set a certain trend channel conjugated with three EMA 200/50/20 levels and Fibonacci levels, and recently the chart has been respecting this channel.
Further development of price changes directly depends on the DXY. In my understanding, if the dollar index breaks through the resistance level (which it did on Thursday) (but it is too early to judge since bears can push to stop losses and then start buying the dollar index)
We all perfectly understand that the market is simply pumped up by the FED and we must understand one thing, that someday this will all stop and after that, there will be an immediate correction.
Of the three indices (DOW / SPY / NQ), only NASDAQ showed a historical maximum, so we can assume that it is the most volatile of its counterparts.
On July 29, the FOMC press conference will set the trend for the further development of the cycle of the dollar index.
As a trader, I will wait for a strong impulse from the big players. But as a person, I still believe that the dollar index will go up to a strong correction to the level of 95.50 or even 97.75, in which case the NASDAQ will fall to 9000 and SPX to 3000.
In any case, we only need to observe. And as my Jewish friend told me " I cant promise you the future but I can show you past" )))))
PS. here are the thoughts of the author and in no way force you to trade. Stay Safe.
Support channel by pushing like button and comment down below.