S&P500 Strong MA200 (4h) rejection.
S&P500 has had a strong rejection on the MA200 (4h) level today.
It happened after it rose by +4.70% from last week's low, the same degree of rise as the September 1st Lower High did.
Since the pattern is a Falling Megaphone, selling is prioritized.
Trading Plan:
1. Sell on the first green (4h) candle.
Targets:
1. 4300 (-2.40% decline like the September 7th pull back).
Tips:
1. The RSI (4h) remains on a Rising Support. Breaking under it validates the sell.
2. Breaking over the MA200 (4h) on the other hand invalidates it.
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Notes:
Past trading plan:
It happened after it rose by +4.70% from last week's low, the same degree of rise as the September 1st Lower High did.
Since the pattern is a Falling Megaphone, selling is prioritized.
Trading Plan:
1. Sell on the first green (4h) candle.
Targets:
1. 4300 (-2.40% decline like the September 7th pull back).
Tips:
1. The RSI (4h) remains on a Rising Support. Breaking under it validates the sell.
2. Breaking over the MA200 (4h) on the other hand invalidates it.
Please like, follow and comment!!
Notes:
Past trading plan:
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