There is lot of predictions and discussions about S&P500, and which direction will go. H4 chart shows book example of Hammer Candle.
Last green candle does not have enough momentum to move price higher. Then if you open long position you are in danger with you profit. Need to wait for strong momentum action.
Let’s wait and see what will happen in the next couple days. Look on divergence – they always keep us on the right direction. Keep in mind that divergences are not indication of trend reversal.
If momentum will start rising, then should reach first target T1. Pay attention to the red circle on JP Spectrum and blue TL.
cheers,
Jim
Last green candle does not have enough momentum to move price higher. Then if you open long position you are in danger with you profit. Need to wait for strong momentum action.
Let’s wait and see what will happen in the next couple days. Look on divergence – they always keep us on the right direction. Keep in mind that divergences are not indication of trend reversal.
If momentum will start rising, then should reach first target T1. Pay attention to the red circle on JP Spectrum and blue TL.
cheers,
Jim