Apart from the long term Channel Up since March, S&P500 is trading inside a short term one in the last 10 days.
This is much alike the one in April. Both started after a +4.70% rise.
Eventually the April fractal pulled back to the 0.5 Fibonacci level and the MA200 (4h).
Trading Plan:
1. Sell on the current market price or as close to the Channel as possible.
Targets:
1. 4500 (0.5 Fibonacci level and expected course of the MA200 4h).
Tips:
1. The (4h) RSI is also forming the same Channel Down pattern as April.
Please like, follow and comment!!
Notes:
Past trading plan:
This is much alike the one in April. Both started after a +4.70% rise.
Eventually the April fractal pulled back to the 0.5 Fibonacci level and the MA200 (4h).
Trading Plan:
1. Sell on the current market price or as close to the Channel as possible.
Targets:
1. 4500 (0.5 Fibonacci level and expected course of the MA200 4h).
Tips:
1. The (4h) RSI is also forming the same Channel Down pattern as April.
Please like, follow and comment!!
Notes:
Past trading plan:
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