SP500- Rise from support?
Since the bottom was found in mid-June, SP500 has started to rise and at the beginning of August managed to break above important 4000-4100 zone resistance.
After making a high above 4300 the index started to correct lower and now is trading exactly above the mentioned resistance, now support.
There is a high probability for up continuation from this point and a long trade targeting the previous high can have a 1:2 risk: reward ratio.
Even more, if the correction started at the beginning of the year is over, swing traders can target 4.6k resistance with a 1:6 R:R.
After making a high above 4300 the index started to correct lower and now is trading exactly above the mentioned resistance, now support.
There is a high probability for up continuation from this point and a long trade targeting the previous high can have a 1:2 risk: reward ratio.
Even more, if the correction started at the beginning of the year is over, swing traders can target 4.6k resistance with a 1:6 R:R.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.