WSP1! trade ideas
Between pivots and flags!Hello guys!! Hope you are having a good day!
Im here to give you a update on SP futures. Sunday the Fed announced a $700b buy on treasuries and mortgages bonds and lowered the interest rate to 0%. But markets are always wise, and know that such stimulli wont solve the problem.
So, we are waiting for a h1 close below 2380. This enables the targets of a bearish flag that were drawn on chart. Besides this flag, we have a 100% projection of a pivot (~2300), that I published an idea last week (It worths to look if you haven`t because this idea went quite on mark!!). ~Coincidently~ this level was the bottom on December`s 2018 dump, so I think this zone should be tested for sure!
Well, if 2300 wont hold us, than things will get scary. Because 2300 represents a 100% retracement of the last impulse upwards, and the previous impulse was the bull run started on 2009. So the retracements of this whole wave will be lower levels, like 2000 or maybe sub 2000. So better watch out for 2300, ok ?!
And how about a sudden recovery from Mr. Market? Alright, we will need at least a pivot (not another bearish one, LUL) on H1 and than we could think about it. And ma200, a good indicator of stronger trends, is still pointing down. So until 2750 being conquered, my thoughts would be consistently downwards. I guess that on the middle on the path, there will be a lot of this kind of bull traps, like bear flags and such, so be careful with long positions.
Feel free to comment, make questions and hit the thumbs up as well!! Stay in peace my fellows!
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