S&P 500 IndexLong
Hellena | SPX500 (4H): LONG to resistance area 6104 (Wave 3).
Updated
Colleagues, I see that the price has completed wave “4” and is now forming wave “5” of the higher order.
I believe that the price may go into correction in the lower wave “2” to the area of 50% Fibonacci level 5896.9, after which I expect the upward movement to continue to the resistance area 6104.
The upward movement is the priority, so I warn that the price may just continue to move upward, updating the wave “1”.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
I believe that the price may go into correction in the lower wave “2” to the area of 50% Fibonacci level 5896.9, after which I expect the upward movement to continue to the resistance area 6104.
The upward movement is the priority, so I warn that the price may just continue to move upward, updating the wave “1”.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Note
The price did not make any serious movements during the day, so I stick to the previous plan.
Although a sharp bounce from the level of 5965 is a bit alarming. It may be a signal that the price will continue its upward movement.
Trade active
Friends, the price started immediately upward movement and continued the wave “1”.
But I assume that correction is still possible, because wave “2” should happen.
In any case, I recommend that trades should be set trades to breakeven.
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