TradingShot

S&P500 Why do you keep ignoring the 4H MA50?

Long
FOREXCOM:SPXUSD   US SP 500 CFD
Isn't that true? Since the index broke above it on September 28, the MA50 on the 4H chart has been the most reliable buy entry you could get. So far (counting yesterday) this happened three times. I've mentioned this potential on a few studies with the most recent one as seen below:


Technically every Higher High on this Channel Up is on the 1.382 Fibonacci extension of the previous High. See how consistent this has been on two occasions. This sets the target at 3460.

Based on a recurring RSI sequence (Channel Down accumulation into a strong bullish break-out), the price may be preparing an even stronger jump.

Don't lose sight of the greater picture:


Are you gonna keep ignoring the 4H MA50? Feel free to share your work and let me know in the comments section!

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Comments

THANK YOU VERY NICE
+2 Reply
Could you please clarify what is the ticker symbol one should use on TradingView in order to replicate your first chart? Many thanks in advance.
+1 Reply
bravo
+1 Reply
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