I hope you have enjoyed my last post on EURUSD , and if you have followed my idea, you would have got yourself around 100-115 pips by now. And if you have followed my previous ETC post on the 10th March, you would have made a nice profit of 37%.
Before I start, I want to emphasise this is just a speculation, the crash may never happen. However, the current set up looks like it's about to go downhill. Plus, from what I am seeing is there is more downside potential than to the upside.
I was going to post this TA a few days ago, but I thought I was crazy enough to call a crash, until I saw the same thoughts been posted by @PRO_Indicators. He also showed the similarities between the current SPX500 set up and the recent BTC crash. They look almost identical. Of course, SPX500 may not follow the path of BTC , and that's why you have to have a Risk/Reward ratio in every trade.
If you are a less aggressive trader, you can wait for the break down of the blue and wait for a pull back at around $2745. But if you are an aggressive trader, you can open a short position now and set SL at $2840. If SPX500 does crash, I believe it has the potential to drop all the way down to $2386, which is also where the long term is gonna be at around the end of April.
I wouldn't recommend for this trade anything more than x10 leverage.
Please note this is not a financial advice. Trade with SL and take profit at each target.
TP1 hit. Fib 0.786 retrace hit ($2603.85). Please take partial profits.
When 0.786 retrace hits, there is a possibility for SPX to go back to 0.5 retrace.