S&P 500 Pullback Nearing End? Hammer + Elliott Wave Say Rebound!
The S&P 500 Index(
SPX500) is one of the most important indexes in the financial market these days, with the cryptocurrency market and especially Bitcoin(
BTCUSDT) having a strong correlation with this index.
After Donald Trump suspended tariffs on 90 countries (except China), the S&P 500 Index started to rise and seems to have managed to break through the Resistance zone($5,284-$5,094) and is pulling back to this zone.
One of the signs of a reversal of the S&P 500 Index can be the formation of the Hammer Candlestick Pattern, which announces the end of the pullback.
In terms of Elliott Wave theory, it seems that the S&P 500 Index is completing a corrective wave that could be in the form of a main wave 4 (it is correcting both in time and price).
I expect the S&P 500 Index to resume its upward trend in the coming hours, if nothing special is released, and to reach the Resistance zone($5,680-$5,500) and Yearly Pivot Point. If this happens, today's Bitcoin analysis could also be correct.
Note: In the worst case, if the S&P 500 Index touches $5,050, we should expect a further decline in the S&P 500 Index and Bitcoin.
Do you think the S&P 500 Index will return to an upward trend, or is this increase temporary?
Please respect each other's ideas and express them politely if you agree or disagree.
S&P 500 Index Analyze (SPX500USD),1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
SPX500) is one of the most important indexes in the financial market these days, with the cryptocurrency market and especially Bitcoin(BTCUSDT) having a strong correlation with this index.After Donald Trump suspended tariffs on 90 countries (except China), the S&P 500 Index started to rise and seems to have managed to break through the Resistance zone($5,284-$5,094) and is pulling back to this zone.
One of the signs of a reversal of the S&P 500 Index can be the formation of the Hammer Candlestick Pattern, which announces the end of the pullback.
In terms of Elliott Wave theory, it seems that the S&P 500 Index is completing a corrective wave that could be in the form of a main wave 4 (it is correcting both in time and price).
I expect the S&P 500 Index to resume its upward trend in the coming hours, if nothing special is released, and to reach the Resistance zone($5,680-$5,500) and Yearly Pivot Point. If this happens, today's Bitcoin analysis could also be correct.
Note: In the worst case, if the S&P 500 Index touches $5,050, we should expect a further decline in the S&P 500 Index and Bitcoin.
Do you think the S&P 500 Index will return to an upward trend, or is this increase temporary?
Please respect each other's ideas and express them politely if you agree or disagree.
S&P 500 Index Analyze (SPX500USD),1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
تم فتح الصفقة
Trade was activate = above Hammer Candlestick Patternأغلقت الصفقة: تم الوصول للهدف
First Target Done in this analyze.
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🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
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-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.