Hello everyone, if you like the idea, do not forget to support with a like and follow.
As per my previous idea (attached below), US500 is overall bullish and we will be waiting for the price to approach our lower brown trendline and demand zone to look for buy setups.
on M30: US500 is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, US500 would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
As per my previous idea (attached below), US500 is overall bullish and we will be waiting for the price to approach our lower brown trendline and demand zone to look for buy setups.
on M30: US500 is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, US500 would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
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Trading Made Simple; and Rule-Based
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www.RichTL.com
Instagram:
www.instagram.com/richthesignalyst
Telegram:
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal