NaughtyPines
Long

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

FX:SPX500   S&P 500 index of US listed shares
142 3 4
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 ... .
Incogniteaux
8 months ago
You do realize you just drew a head and shoulders reversal pattern with those last three peaks, right?
Reply
NaughtyPines Incogniteaux
8 months ago
Lol. Thanks for pointing that out ... . Actually kind of surprised I missed that, since the ZigZag makes it stick out ... .
Reply
Incogniteaux NaughtyPines
8 months ago
Happens to the best of us! lol
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out