This is an ETF chart of the famous SNP500. We are at the end of some stage of an impulse. A critical stage and it is hard to know which one exactly with so much fiscal stimulus getting pumped into the virtual sector. Similarly, the lows to which we will drop will be highly dependent on how much for the the FEDs are going to print USD. This is assuming, of course, the the plans are in place to print more money in a move of the so called quantitative easing. If you live in wonderland, Modern Monetary Theory is not really modern, neither does it really work. Economic realities can and will catch up sooner rather than later.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
Trade closed: target reached
First one.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.