NaughtyPines
Long

/ES/SPY/SPX/SPX500 -- MIND THE 3/24-PRESENT CHANNEL MIDLINE

FX:SPX500   S&P 500 index of US listed shares
In addition to reacting off the lower and upper bounds of the 3/24-Present Channel (shown in purple here), watch for price reactivity to the channel's midline (shown in blue). On several occasions, price has either retreated from the midline on test from below or bounced off of it on test from above (red arrows).

Given the fact that the purple channel has an upward inclination, I would look to take short-term longs at the lower bound of the purple channel targeting either the midline or the top of the channel ... .
You do realize you just drew a head and shoulders reversal pattern with those last three peaks, right?
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NaughtyPines Incogniteaux
Lol. Thanks for pointing that out ... . Actually kind of surprised I missed that, since the ZigZag makes it stick out ... .
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Incogniteaux NaughtyPines
Happens to the best of us! lol
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