SPX Triangle formation with RSI double bottom divergence
Updated
SPX go long with SL daily RSI close below 31.45.
We are seeing a running Triangle formation with Bullish Divergence in Daily and Weekly RSI.
Confirmation is too far away, so need to enter here to make it a good RR trade.
Low risk traders can enter here with SL, new low in daily RSI below 31.45.
High Risk traders can have a bigger SL, new low in Weekly RSI below 30.21.
We are seeing a running Triangle formation with Bullish Divergence in Daily and Weekly RSI.
Confirmation is too far away, so need to enter here to make it a good RR trade.
Low risk traders can enter here with SL, new low in daily RSI below 31.45.
High Risk traders can have a bigger SL, new low in Weekly RSI below 30.21.
Trade active
Updated SL for long, daily RSI-14 close below 31.59 for low risk traders.For high risk traders, SL remains same, Weekly RSI-14 close below 30.21 (tomorrow close).
If Weekly SL remains intact, will update modified targets and path.
Trade active
Stay cautious in 3830-3960 zone. Once trading above this, ATH coming.No change in SL, Weekly RSI close below 30.21.
Trade active
Move SL at cost (3749) and enjoy the ups and downs. Will update if I see any further development..Trade closed manually
As feared, 3830-3960 zone proved tough to breach.Close trade, new low coming.
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