SP500 (Y20.P3.E2).Macro.Entry level
Updated
Hi All,
The above weekly chart gives some key items to watch for. These are:
a) the weekly 50 ema;
b) the top trend line as part of a broadening wedge;
c) the horizontal support and resistance levels;
I'm using 2 indicators to also assist with early detection as to which of these it could be;
I have the phoeix and the stoch RSI on the weekly.
a) The phoeix RSI to cross over, and or the grey energy to go above 50% along with the green RSI
b) otherwise or in conjunction the stoch RSI to also cross over
The weekly indicators would likely be confirmation so we need to look at earlier time period, say 3 day chart, with similar expectations.
This will then give me confidence to go long with BTC as well.
I would also look at BTC dominance and USD dollar index for additional confirmation about going long.
May you have all the best trading ahead.
Cheers,
S.SAri
Retracement levels:
The above weekly chart gives some key items to watch for. These are:
a) the weekly 50 ema;
b) the top trend line as part of a broadening wedge;
c) the horizontal support and resistance levels;
I'm using 2 indicators to also assist with early detection as to which of these it could be;
I have the phoeix and the stoch RSI on the weekly.
a) The phoeix RSI to cross over, and or the grey energy to go above 50% along with the green RSI
b) otherwise or in conjunction the stoch RSI to also cross over
The weekly indicators would likely be confirmation so we need to look at earlier time period, say 3 day chart, with similar expectations.
This will then give me confidence to go long with BTC as well.
I would also look at BTC dominance and USD dollar index for additional confirmation about going long.
May you have all the best trading ahead.
Cheers,
S.SAri
Retracement levels:
Trade active
Needing another 1.4 days with the closing of the 3 day candle, which will tell us if it breaks this resistance and play out the moderate scenario 1 correction.Note
Note
Another way of looking at itTrade active
as per script. Question is which resistance will play out?Note
So far the price is acting like a breakout from a wedge.Note
Note
Note
inverse Head and Shoulders
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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.