SPX500- 4800+ or maybe not?
Hi traders and investors!
It's been a while since I've posted anything on here.Decided to share some thoughts on what I see on SPX500 right now.
After a huge bull run starting from Oct 23, which btw I totaly underestimated(thought we are not gonna go for ATH that fast), we've arrived at a decent resistance around ATH Zone.
There are different scenarios and patterns that are forming here right now,but IMO we are due to some deeper correction here before going for 4800+
Possible Bat on the daily might help to catch a really decent drop all the way up to 4580-4600 Zone. Daily RSI also shows signs of Bearish Divergence.
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We also have a smaller bat on 4h,which can help with an entry here:
Gonna look for an entry around 4780(if we get there)
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All that is gonna be invalidated if the price breaks ATH.Only then I will look for higher targets on SPX and look for another trade set up.
Always follow your own trading plan,don't risk more then you can afford and ofc GOOD LUCK and loads of pips to you all:)
Take care!
It's been a while since I've posted anything on here.Decided to share some thoughts on what I see on SPX500 right now.
After a huge bull run starting from Oct 23, which btw I totaly underestimated(thought we are not gonna go for ATH that fast), we've arrived at a decent resistance around ATH Zone.
There are different scenarios and patterns that are forming here right now,but IMO we are due to some deeper correction here before going for 4800+
Possible Bat on the daily might help to catch a really decent drop all the way up to 4580-4600 Zone. Daily RSI also shows signs of Bearish Divergence.
==============================================================
We also have a smaller bat on 4h,which can help with an entry here:
Gonna look for an entry around 4780(if we get there)
==============================================================
All that is gonna be invalidated if the price breaks ATH.Only then I will look for higher targets on SPX and look for another trade set up.
Always follow your own trading plan,don't risk more then you can afford and ofc GOOD LUCK and loads of pips to you all:)
Take care!
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