As I expected in the previous idea, the S&P 500 index(
SPX500) reached its targets(Full Target Done).
The S&P 500 index has once again approached the resistance zone($7,464-$$7,435), but has lost its ascending channel, which could be a sign of weakness in the upward trend for this index.
From a classical technical analysis perspective, it seems that the S&P 500 could complete the Head and Shoulders Pattern after breaking the ascending channel.
From an Elliott wave theory perspective, it seems that the S&P 500 should experience more corrective waves.
I expect the S&P 500 to decline to at least $7,351 after breaking the important trading level of $7,400. And if the neckline is broken, we should expect further declines.
First Target: $7,351
Second Target: $7,303
Stop Loss(SL): $7,473
What’s your view on the S&P 500? Can it resume its bullish trend, or should we expect a deeper correction?
Note: If tensions escalate in the Middle East in the coming days, we could see further declines in the S&P 500, similar to what happened yesterday. However, from a technical perspective, the index does appear to need a price correction.
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 S&P 500 Index Analyze (SPX500USD), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
SPX500) reached its targets(Full Target Done).The S&P 500 index has once again approached the resistance zone($7,464-$$7,435), but has lost its ascending channel, which could be a sign of weakness in the upward trend for this index.
From a classical technical analysis perspective, it seems that the S&P 500 could complete the Head and Shoulders Pattern after breaking the ascending channel.
From an Elliott wave theory perspective, it seems that the S&P 500 should experience more corrective waves.
I expect the S&P 500 to decline to at least $7,351 after breaking the important trading level of $7,400. And if the neckline is broken, we should expect further declines.
First Target: $7,351
Second Target: $7,303
Stop Loss(SL): $7,473
What’s your view on the S&P 500? Can it resume its bullish trend, or should we expect a deeper correction?
Note: If tensions escalate in the Middle East in the coming days, we could see further declines in the S&P 500, similar to what happened yesterday. However, from a technical perspective, the index does appear to need a price correction.
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 S&P 500 Index Analyze (SPX500USD), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
Transaction en cours
Trade was activated in resistance zone($7,464-$$7,435Trade fermée: ordre d’arrêt atteint
With the news of a possible agreement between Iran and the US, the SPX500 index began to rise, but this increase could probably create a false break above the resistance zone($7,464-$$7,435).
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
-----
🎁 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
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.