S&P 500 IndexLong
InvestMate|S&P 500 Long to 1:1 level?📈
📈S&P 500 Long to 1:1 level?
📈As I wrote in a previous post about the chance to see declines and then rises on the s&p500, the declines didn't happen but we broke out to new highs
📈Which created an ideal opportunity for us to continue the uptrend which could stop at the resistance zone marked on the chart.
📈I determined it based on a cluster of 3 measurements. The first measurement is the fibo level 0.5 of the entire downtrend. The second is the 1:1 level of the largest upward correction in the downtrend and the third is the 1:1 level of the largest upward wave in the current upward momentum. The zone has been repeatedly respected by the price in the past.
📈I also marked two support zones.
📈The first is the 0.236 level of the entire upward wave.
📈The second is the cluster of the 0.236 level of the entire downtrend and the 0.382 level of the entire upward impulse.
📈It is also worth noting that we have broken through the 0.382 level of the entire downtrend.
📈The scenario I am playing out is a continuation of the uptrend to the resistance zone, taking into account smaller corrections along the way.
📈*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
📈As I wrote in a previous post about the chance to see declines and then rises on the s&p500, the declines didn't happen but we broke out to new highs
📈Which created an ideal opportunity for us to continue the uptrend which could stop at the resistance zone marked on the chart.
📈I determined it based on a cluster of 3 measurements. The first measurement is the fibo level 0.5 of the entire downtrend. The second is the 1:1 level of the largest upward correction in the downtrend and the third is the 1:1 level of the largest upward wave in the current upward momentum. The zone has been repeatedly respected by the price in the past.
📈I also marked two support zones.
📈The first is the 0.236 level of the entire upward wave.
📈The second is the cluster of the 0.236 level of the entire downtrend and the 0.382 level of the entire upward impulse.
📈It is also worth noting that we have broken through the 0.382 level of the entire downtrend.
📈The scenario I am playing out is a continuation of the uptrend to the resistance zone, taking into account smaller corrections along the way.
📈*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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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.
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
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.