US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
S&P AND TRUMP: any last words?
2020-11-12 • Updated
How do you feel about dinosaurs going extinct? Probably, nothing. They just “had” to go. How do you feel about Donald Trump’s defeat? Should be the same logic: he just has to go. But he is not a dinosaur so he will not just go away like this. He still has a couple of months in the White House, and it looks like he will make some noise before he leaves. “Why such a condescending manner?” – because one needs to recognize and accept when it’s over. Donald Trump does have charisma – no one can take that away from him. Donald Trump does have a vision of how things ought to be done in the US and in the world – and maybe, this vision is the best for the US. But the American people don’t want it anymore. Fraud or not, it doesn’t matter – there are enough people out there to support the alternative direction offered by Joe Biden. “Make America great again” doesn’t have the momentum it used to have a couple of years ago. No one knows what Joe Biden will do to America, but what Donald Trump could have done – most people are no longer interested to know. That’s the end of political life. And Donald Trump refuses to face it. But that’s fine – we all choose where to look and what to listen to. But most of us have no influence on the world economy with our choice – Donald Trump has. And what is it now? It is a destabilization risk coming from the contested election – the market’s biggest fear since recently.
In numbers, that’s a downside potential for the S&P to drop to 3 200. In fact, that would be that 1o% bearish threat that observers have been discussing before the US Election results. Is there a probability of a stronger bearish incursion? Quite unlikely. In fact, the probability of a drop to 3 200 is pretty thin as well. Why? Because as of now, there is no solid proof of a large-scale fraud anywhere in the US. Of course, Donald Trump says it is all a fraud but for that, there is the entire and worldwide-envied American judicial system with all its fact-checks and procedures to satisfy both the plaintiff and the defendant and find the truth based on evidence. And until now, no evidence for a fraud has been found so far. For this reason, it would be fair to say that the real threat for the S&P is to get down to the middle of the channel – somewhere at 3 400 – in case Donald Trump goes all-in to question the results of the election but it should not take more than that. So stay calm and keep trading.
Similar
US30 Trading Strategy and Key Levels: Where Are the Supply and Demand Zones?
Bearish Scenario: Sell below 39600... Anticipated Bullish Scenario: Intraday buys above 39750... Bullish Scenario after Retracement: Intraday buys above 39150
US100: Consolidated and preparing correction below 18100. Key levels on H4!
Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Latest news
USD: Powell Speaks on Cutting Interest Rates
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
WTT: Currency Pairs To Trade In April
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
