SPX500 Long -61.8% fib level bounce with bullish momentum!!
-A extremely good long setup has happened on the S&P500 with price reacting to the 61.8% fib level (Golden Ratio).
- We can see that both 50 and 200 EMA are below price which indicates that price is in a uptrend and we should be looking for bullish signals only.
-The higher timeframes are also showing bullish signals and momentum which adds extra confluence for me to go long for S&P500.
-Another confluence is that my demand zone is in line with the 61.8% level which means that price will more likely react well to the fib level.
Let's See how the S&P500 will do during the week!
Please make sure to follow, like and comment your ideas/opinions on the S&P500.
- We can see that both 50 and 200 EMA are below price which indicates that price is in a uptrend and we should be looking for bullish signals only.
-The higher timeframes are also showing bullish signals and momentum which adds extra confluence for me to go long for S&P500.
-Another confluence is that my demand zone is in line with the 61.8% level which means that price will more likely react well to the fib level.
Let's See how the S&P500 will do during the week!
Please make sure to follow, like and comment your ideas/opinions on the S&P500.