S&P500: Buy conditions inside a Megaphone pattern.
The S&P500 index is approaching the 4H MA200 inside a month long Megaphone pattern. The 4H technicals are deep in red (RSi = 38.959, MACD = 4.530, ADX = 22.263) and inside this pattern when that took place, buy signals have started to emerge.
We are buyers and target the pattern's top (TP = 4,200) as long as the price doesn't break under the Megaphone or closes under the 1D MA50. If it does, we will short, expecting a bearish breakout targeting near the S2 (TP = 3,925).
Prior idea:
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We are buyers and target the pattern's top (TP = 4,200) as long as the price doesn't break under the Megaphone or closes under the 1D MA50. If it does, we will short, expecting a bearish breakout targeting near the S2 (TP = 3,925).
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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