The S&P500 is extending the rally inside the long term Channel Up.
The MA50 (1d) has been supporting and is untested since March 30th.
Such a strong rally undeniably created an overbought RSI (1d).
Last time the index gave a similar RSI pattern (August 10th 2022), the price gave a few more days of upside and one last push before a correction.
Trading Plan:
1. Buy on the current market price and as long as the RSI (1d) remains above its MA level.
Targets:
1. 4515 (Resistance 1 and April 21st 2022 top, near the top of the long term Channel Up).
Tips:
1. The RSI (1d) technically gives a signal that the uptrend is coming to a stop and a correction is starting, when it crosses under its MA level. Use this to your advantage in order to book the profit earlier if needed.
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Notes:
Past trading plan:
The MA50 (1d) has been supporting and is untested since March 30th.
Such a strong rally undeniably created an overbought RSI (1d).
Last time the index gave a similar RSI pattern (August 10th 2022), the price gave a few more days of upside and one last push before a correction.
Trading Plan:
1. Buy on the current market price and as long as the RSI (1d) remains above its MA level.
Targets:
1. 4515 (Resistance 1 and April 21st 2022 top, near the top of the long term Channel Up).
Tips:
1. The RSI (1d) technically gives a signal that the uptrend is coming to a stop and a correction is starting, when it crosses under its MA level. Use this to your advantage in order to book the profit earlier if needed.
Please like, follow and comment!!
Notes:
Past trading plan:
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Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.