SPX-daily chart-a buy position in a mid-period view
hello everyone
As it's shown in the chart, I draw two different bullish channel on the chart because it has two separate momentum in the index value movement.
In according to a uptrend direction and the point intersection in the top line of both channels, also equality of this value with historical resistance (the value of 1.428 approximately), we can attend the value become reverse after testing ths level. however, there is a good chance to take a long position in bottom of the smaller bullish channel while your profit can be taken in 1.428. at last, if SPX value can break the amount of historical resistance, we can have a hope to hearing very good news from this wonderful index.
If you agree with my idea please like me and follow me, in other side, if you disagree with me, you can leave a comment and share you idea with me.
good luck everyone.
As it's shown in the chart, I draw two different bullish channel on the chart because it has two separate momentum in the index value movement.
In according to a uptrend direction and the point intersection in the top line of both channels, also equality of this value with historical resistance (the value of 1.428 approximately), we can attend the value become reverse after testing ths level. however, there is a good chance to take a long position in bottom of the smaller bullish channel while your profit can be taken in 1.428. at last, if SPX value can break the amount of historical resistance, we can have a hope to hearing very good news from this wonderful index.
If you agree with my idea please like me and follow me, in other side, if you disagree with me, you can leave a comment and share you idea with me.
good luck everyone.