S&P500 / 1W
Hello traders, welcome back to another rmarket breakdown.
This is an update on the previous chart of the S&P500 where I have mentioned the lower high major trend reversal setup.
The price is setting at 50% pull back and a trend line that could work as resistance. However, it's all depends on how the Fed plays its rule today.
Here is my plan :
1- Longs above the high of yesterday if the Fed sends a signal that they will pause the rate increases today. (risk on : buy AUD, NZD, sell USD, CHF).
2- Heavily short the whole thing if the fed sends a signal that they will not pause until inflation comes down. (risk off: sell NZD, AUD, Buy USD, CHF).
Trade safe,
Trader Leo.