s&p 500 analysis - 03 mar 2023
hope all you traders are doing great! here are my observations of the s&p...
- so for two days (thursday and wednesday) the market was at a level of support, and price tried to breakout of this support level (on lower time frames) but broke back in to show that it has been respected
- the rejection of yesterdays daily candle are seen as an inverse head and shoulders on the H1
- yesterdays candle closed off bullish, and with a lot of momentum seen by the long body
- and it broke through an intraday level of resistance 3968.71 which is now our support, but price has already retested that level on the london open
- so now i am currently waiting for my peach resistance to get broken and i will go long on the retest of that zone
- but i could be wrong this is just what I THINK WILL HAPPEN ;)
- so for two days (thursday and wednesday) the market was at a level of support, and price tried to breakout of this support level (on lower time frames) but broke back in to show that it has been respected
- the rejection of yesterdays daily candle are seen as an inverse head and shoulders on the H1
- yesterdays candle closed off bullish, and with a lot of momentum seen by the long body
- and it broke through an intraday level of resistance 3968.71 which is now our support, but price has already retested that level on the london open
- so now i am currently waiting for my peach resistance to get broken and i will go long on the retest of that zone
- but i could be wrong this is just what I THINK WILL HAPPEN ;)
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