Overview:
The US500 (S&P 500) is showing signs of a potential bullish reversal after a significant pullback. We have reached a key support level where buyers are stepping in, suggesting a possible move higher.
Technical Analysis:
Support Zone: Price has tested a strong demand zone and is rejecting lower levels.
Bullish Structure: A higher low formation is developing, which is a sign of trend reversal.
Moving Average Confluence: Price is looking to reclaim the 50-day moving average, adding further confirmation for a bullish push.
Risk-Reward Setup: A favorable risk-to-reward ratio is in play with a stop below the recent lows and a target back towards recent resistance levels.
Trade Plan:
🔹 Entry: On confirmation of bullish momentum near the current zone.
🔹 Stop Loss: Below the recent swing low.
🔹 Take Profit: Targeting the previous high near resistance.
💬 Let me know your thoughts! Will US500 bounce from here? 🚀
#RSTRADING #SPX500 #Trading #Forex #TechnicalAnalysis
The US500 (S&P 500) is showing signs of a potential bullish reversal after a significant pullback. We have reached a key support level where buyers are stepping in, suggesting a possible move higher.
Technical Analysis:
Support Zone: Price has tested a strong demand zone and is rejecting lower levels.
Bullish Structure: A higher low formation is developing, which is a sign of trend reversal.
Moving Average Confluence: Price is looking to reclaim the 50-day moving average, adding further confirmation for a bullish push.
Risk-Reward Setup: A favorable risk-to-reward ratio is in play with a stop below the recent lows and a target back towards recent resistance levels.
Trade Plan:
🔹 Entry: On confirmation of bullish momentum near the current zone.
🔹 Stop Loss: Below the recent swing low.
🔹 Take Profit: Targeting the previous high near resistance.
💬 Let me know your thoughts! Will US500 bounce from here? 🚀
#RSTRADING #SPX500 #Trading #Forex #TechnicalAnalysis
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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.
7+ years of trading experience 📚
Canadian Based 🇨🇦
Learn a structured approach to consistent trading results 🧠💡
Follow me on Insta!
Canadian Based 🇨🇦
Learn a structured approach to consistent trading results 🧠💡
Follow me on Insta!
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.