S&P Index Cash CFD (USD)

Wave structure analysis of SP500 index on daily time frame

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Day swing is bearish => Current is pullback.

The current price is in the Supply zone of the daily frame. So we can look for a selling opportunity if the CHoCH reversal signal is given on the time frame less than 15 minutes.
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Price has broken down to the Swing strong bottom of the 4 hour time frame
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Price drops and breaks through the Swing bottom of the 4-hour timeframe, thus the 4-hour timeframe turns bearish.
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The price continued to fall and broke the low.
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