S&P500 Buy opportunity approaching
The S&P500 crossed under the MA50 (4h) and is approaching the bottom of the 1 month Channel Up.
That would complete a -2.60% decline from the top, which is consistent with the pull backs of late April and May.
Trading Plan:
1. Buy at 4340.
Targets:
1. 4515 (Resistance 1).
Tips:
1. The RSI (4h) gives the most optimal buy entry when it crosses under the 30.00 oversold level. If that happens near the bottom of the Channel Up, it will be an additional reason to buy.
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Notes:
Past trading plan:
That would complete a -2.60% decline from the top, which is consistent with the pull backs of late April and May.
Trading Plan:
1. Buy at 4340.
Targets:
1. 4515 (Resistance 1).
Tips:
1. The RSI (4h) gives the most optimal buy entry when it crosses under the 30.00 oversold level. If that happens near the bottom of the Channel Up, it will be an additional reason to buy.
Please like, follow and comment!!
Notes:
Past trading plan:
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