S&P500 Trade the Megaphone's breakout
The S&P500 is trading inside a Megaphone pattern, which in December 2022 broke to the downside and hit Fibonacci 0.236 of the Channel Up.
With the 1day MA50 supporting however for 40 straight days, it is equally probable to see an upward breakout.
If the price crosses over the Megaphone, buy and target the top of the long term Channel Up at 4350.
If it crosses under the Megaphone, sell and target the bottom at 3950.
Previous chart:
Follow us, like the idea and leave a comment below!!
With the 1day MA50 supporting however for 40 straight days, it is equally probable to see an upward breakout.
If the price crosses over the Megaphone, buy and target the top of the long term Channel Up at 4350.
If it crosses under the Megaphone, sell and target the bottom at 3950.
Previous chart:
Follow us, like the idea and leave a comment below!!
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
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.