SP500, high AB=CD, multiple inside bars entry
Weekly Bias is UP, Daily is UP as well.
We have an AB=CD which happens above the 38% retracement of the bigger swing up. (some people might refer to this as a high-tight flag).
30 min is showing divergence. The entry is a breakout after multiple inside bars pattern also known as a popgun pattern.
The risk to reward to the previous all-time high is 1 to 5 if no scaling out. Scaling out will still give you some 1 to 3 RR. If you pick a longer-term trailing target that looks pretty sweet.
We have an AB=CD which happens above the 38% retracement of the bigger swing up. (some people might refer to this as a high-tight flag).
30 min is showing divergence. The entry is a breakout after multiple inside bars pattern also known as a popgun pattern.
The risk to reward to the previous all-time high is 1 to 5 if no scaling out. Scaling out will still give you some 1 to 3 RR. If you pick a longer-term trailing target that looks pretty sweet.
Comment:
You also have a 1-hour multiple inside bar trigger. Same pattern as on the 30 min chart.