**Yearly Chart**
At the beginning of each year, I like to see the yearly candle and see how it is closed in relation to the previous year's candle.
US500 (S&P) 2023 closed bullish, however, it is within the range of the previous two candles 2022 & 2021.
**Monthly Chart**
The chart shows a clear long-term upward trend but the price didn’t break the high of Jan 2022. Last month's candle closed bullish suggesting continues to move upward to target the high.
**Weekly Chart**
Currently, the price is at a sensitive area near an all-time high. We need to be very conscious when taking a reversal trade this is because there is there might be a liquidity grab above the manipulation candle of Jan 2022 before it changes its direction and goes lower. However, I am very interested in buying on a pullback near demand zones.
**Daily Chart**
Similar scenario on daily but I prefer to follow the weekly chart move since it is strong and clear.
At the beginning of each year, I like to see the yearly candle and see how it is closed in relation to the previous year's candle.
US500 (S&P) 2023 closed bullish, however, it is within the range of the previous two candles 2022 & 2021.
**Monthly Chart**
The chart shows a clear long-term upward trend but the price didn’t break the high of Jan 2022. Last month's candle closed bullish suggesting continues to move upward to target the high.
**Weekly Chart**
Currently, the price is at a sensitive area near an all-time high. We need to be very conscious when taking a reversal trade this is because there is there might be a liquidity grab above the manipulation candle of Jan 2022 before it changes its direction and goes lower. However, I am very interested in buying on a pullback near demand zones.
**Daily Chart**
Similar scenario on daily but I prefer to follow the weekly chart move since it is strong and clear.
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Join our PropSignals Channels on Telegram
t.me/PropsignalAE
t.me/PropsignalAE
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.