FX:SPX500   S&P 500 index of US listed shares
1795 5 51
8 months ago
SPX             has broken the structure
Previous it is support
Few Day's Ago it is Resistance
Now we can expect it to become Support Again.
So, wait for the pull back and buy SPX500            
when it comes back to the structure.
Look for RSI and Price Action for confirmation
Zoom into Small Time Frame for best Entry
Target: 2070
Good Luck!
8 months ago
Comment: Pull Back to 2004 twice, and now it rally up , make a new high,
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Alexander_Nikitin
8 months ago
Strange... Hmm.... I don't see any resistance broken. Your scenario is possible but more likely price drops to the downside before it reaches the higher level on your chart.
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Lanmar PRO Alexander_Nikitin
8 months ago
Yellow rectangle indicated is indeed a strong level of resistance. 2070/2080 presents a good opportunity to go short in my view.
Reply
tntsunrise TOP Alexander_Nikitin
8 months ago
The broken resistance in my chart is the zone near to 2000 level. which is previous the neck line. now it breaks up and close above
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Alexander_Nikitin tntsunrise
8 months ago
Yes, I understand what you mean. I just have another view at the markets. For me a trend is a series of lower lows and lower highs. Untill this structure is broken, the downtrend remains active. The last lower high was at your upper yellow rectangle. If price goes above that, only then I would say that resistanse is broken. Untill then it is a potential reversal zone from your lower rectangle to the upper one. Look at my youtube video I attach. This zone is explained as overlapping rectangles.)) https://youtu.be/xTMx9qivc50
These are only my view, don't take it close to heart))
Reply
tntsunrise TOP Alexander_Nikitin
8 months ago
Thank you Bro, it's nice to have exchange some views here
Reply
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