S&P500 Channel Up trades depending on the 4hour MA50.
The S&P500 / US500 is trading inside a larget Bearish Megaphone pattern, which is rising lately to price a Lower High on the Falling Resistance.
This creates the potential for two Channel Up patterns, a dotted one more aggressive and a dashed one less aggressive.
The determining factor is the 4hour MA50. So far it is holding and favors the more aggressive version. Buy and target 4450 (Falling Resistance).
If it breaks, buy for a second time near the bottom of the less aggressive Channel Up and target 4440 (Falling Resistance).
A triple straight Bullish Cross on the 4hour MACD is a strong indication of a bullish trend, that's why we use a double buy entry approach.
Previous chart:
Follow us, like the idea and leave a comment below!!
This creates the potential for two Channel Up patterns, a dotted one more aggressive and a dashed one less aggressive.
The determining factor is the 4hour MA50. So far it is holding and favors the more aggressive version. Buy and target 4450 (Falling Resistance).
If it breaks, buy for a second time near the bottom of the less aggressive Channel Up and target 4440 (Falling Resistance).
A triple straight Bullish Cross on the 4hour MACD is a strong indication of a bullish trend, that's why we use a double buy entry approach.
Previous chart:
Follow us, like the idea and leave a comment below!!
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
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.