S&P500 - Thorough Analysis - Daily Chart
Let's continue with the Daily Chart.
I know, I know. Waaay too many lines. Don't worry, you'll get it.
So, we are looking at the year 2016 up until now. You can see that since Trump's victory in last November price can't be stopped.
Technicalwise, it can be clearly seen that the ups and downs were formed like in the book. Now, the two red lines show that the waves are shrinking which gives us the impression of price losing its steam. The white box shows that price will break up (can't say for sure - because nothing is sure) to the 2500.
Obviously, I will not repeat the worst case scenario that I stated in the Monthly Chart analysis but price can start falling to the Fib. Levels first on Daily, then, on Monthly.
Last idea will be H1 chart. Coming soon.
I know, I know. Waaay too many lines. Don't worry, you'll get it.
So, we are looking at the year 2016 up until now. You can see that since Trump's victory in last November price can't be stopped.
Technicalwise, it can be clearly seen that the ups and downs were formed like in the book. Now, the two red lines show that the waves are shrinking which gives us the impression of price losing its steam. The white box shows that price will break up (can't say for sure - because nothing is sure) to the 2500.
Obviously, I will not repeat the worst case scenario that I stated in the Monthly Chart analysis but price can start falling to the Fib. Levels first on Daily, then, on Monthly.
Last idea will be H1 chart. Coming soon.
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