The primary thesis for the SPX index centers on a potential upward continuation originating from a defined area of structural support, favoring patience for a retracement rather than engaging at the current market price.
Chart evidence shows the index currently trading at 7781, with the 14-period average true range on the 4-hour timeframe measuring 51 points. Directly below the current price action is a designated zone of interest between 7676 and 7745. This specific area represents the largest volume profile shelf, capturing 14% of the volume profile, and is reinforced by previous structural extremes on the chart.
Confirmation is required before any market action is considered. The price must clearly retrace into the 7676 to 7745 zone and demonstrate localized stabilization or a measurable exhaustion of downward momentum, indicating that the volume shelf is actively supporting the market.
This technical scenario faces absolute invalidation if the price declines below 7692. Reaching this specific level signifies a breach of the far boundary of the volume zone, directly breaking the structural argument for a bounce and ending the thesis entirely.
Risk management relies on strict adherence to the 7692 invalidation level to define the maximum downside exposure. When executed from the zone of interest, the setup aims for a first target of 7906, anchored by a 161.8% move projection that represents a 3.1 ATR or 2.1% advance, establishing a risk-to-reward ratio of 1 to 3.0. A secondary target is located at 8005, based on a 261.8% move projection, which would constitute a 5.1 ATR or 3.4% move from the support zone.
Chart evidence shows the index currently trading at 7781, with the 14-period average true range on the 4-hour timeframe measuring 51 points. Directly below the current price action is a designated zone of interest between 7676 and 7745. This specific area represents the largest volume profile shelf, capturing 14% of the volume profile, and is reinforced by previous structural extremes on the chart.
Confirmation is required before any market action is considered. The price must clearly retrace into the 7676 to 7745 zone and demonstrate localized stabilization or a measurable exhaustion of downward momentum, indicating that the volume shelf is actively supporting the market.
This technical scenario faces absolute invalidation if the price declines below 7692. Reaching this specific level signifies a breach of the far boundary of the volume zone, directly breaking the structural argument for a bounce and ending the thesis entirely.
Risk management relies on strict adherence to the 7692 invalidation level to define the maximum downside exposure. When executed from the zone of interest, the setup aims for a first target of 7906, anchored by a 161.8% move projection that represents a 3.1 ATR or 2.1% advance, establishing a risk-to-reward ratio of 1 to 3.0. A secondary target is located at 8005, based on a 261.8% move projection, which would constitute a 5.1 ATR or 3.4% move from the support zone.
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NO REDESIGNING
✅Buy&Sell according to 7 strategies
✅Technical analysis according to 30+ parameters
✅WinRate of signals up to 75%
✅RR 1k3, no deep drawdowns!
Free test drive using my link:
👉midas-club.com/go/tla
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
SIGNAL INDICATOR
NO REDESIGNING
✅Buy&Sell according to 7 strategies
✅Technical analysis according to 30+ parameters
✅WinRate of signals up to 75%
✅RR 1k3, no deep drawdowns!
Free test drive using my link:
👉midas-club.com/go/tla
NO REDESIGNING
✅Buy&Sell according to 7 strategies
✅Technical analysis according to 30+ parameters
✅WinRate of signals up to 75%
✅RR 1k3, no deep drawdowns!
Free test drive using my link:
👉midas-club.com/go/tla
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.