S&P500 Analysis- 7TH May2022
Updated
If breaks H-Support…
Short the index
Entry below 4062.51
Target 4000 but can go down till D-support zone
Stop loss 4154
If breaks price 4600 i.e C-supply zone and sustains above the C-supply zone..
Long the index
Entry above 4650
Target 4800 straight… as G-resistance level
Stop loss as per risk capacity
Short the index
Entry below 4062.51
Target 4000 but can go down till D-support zone
Stop loss 4154
If breaks price 4600 i.e C-supply zone and sustains above the C-supply zone..
Long the index
Entry above 4650
Target 4800 straight… as G-resistance level
Stop loss as per risk capacity
Note
Market is in range as of now… i.e between I- trendline and H- support…Wait for breakout i-e either upside or download..
IF
I-trendline is broken upside…
Entry 4200
Stop loss - candle closing below H-support
Target -4400/4500
IF**
H-Support is broken
Short the market
Entry below 4062
Target 4000 and can go downside till D support zone
Stop loss- Candle closing above I- Trendline
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