This is a short-term update on the 4H time-frame which I rarely use for S&P500 on my November 30 idea:
As you see on that recent post, the 1D MA50 worked well once more in catching the correction within the multi-month Channel Up and the index has been rebounding strongly this week. This long-term Channel has worked very well at identifying tops as well:
Anyway back to the current situation/ chart and the 4H time-frame. The index has entered the High Volatility Cluster of November, which was basically a prolonged Resistance Zone. As long as the 4745 Resistance doesn't breaks, there are high probabilities for a pull-back towards the 4H MA50 (blue trend-line), which as this long-term uptrend unfolds should form a Golden Cross over the 4H MA200 (orange trend-line). Notice also the MACD which is closer to a Bearish Cross after this very strong rally. If you missed the bottom buy around the 1D MA50, this might be the opportunity you're looking for a new entry.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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As you see on that recent post, the 1D MA50 worked well once more in catching the correction within the multi-month Channel Up and the index has been rebounding strongly this week. This long-term Channel has worked very well at identifying tops as well:
Anyway back to the current situation/ chart and the 4H time-frame. The index has entered the High Volatility Cluster of November, which was basically a prolonged Resistance Zone. As long as the 4745 Resistance doesn't breaks, there are high probabilities for a pull-back towards the 4H MA50 (blue trend-line), which as this long-term uptrend unfolds should form a Golden Cross over the 4H MA200 (orange trend-line). Notice also the MACD which is closer to a Bearish Cross after this very strong rally. If you missed the bottom buy around the 1D MA50, this might be the opportunity you're looking for a new entry.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.