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TheAnonymousBanker
Sep 24, 2023 12:33 PM

SP500: Consolidation in Short Term? Short

US SPX 500OANDA

Description

Hi Traders!
Medium and Long-Term Trends are bullish, but in short term SP500 could remain bearish even after a pullback. If we look at daily chart, the Price Action is approaching an important support area around 4,305, if from here it triggers a bullish leg, it's possible a harmonic structure formation (for us, bearish). Having said that, we have a first Target Area around 4,275 and subsequently 4,220.

Trade with care
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📊 Support Area:

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📊 Perfect reaction on our 4,304.6 support:

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🔴 Limited rebound

Trade closed: target reached

✅ Target 1 hit:

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📊 Now, our support area on the daily chart has become our resistance area:

Trade closed: target reached

Comments
BiBiForex
Nice one!
TheAnonymousBanker
@BiBiForex, 👍❤
RLinda
Strong analysis) Chances for luck are high)
TheAnonymousBanker
@RLinda, 👍
HAMED_AZ
Great idea
TheAnonymousBanker
@HAMED_AZ, Thank you!
FuturesTradex
it touched upper trend what about now?
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