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US500 is sitting around the upper brown trendline so we will be looking for sell setups on lower timeframes.
on H1: US500 is forming a channel in blue but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)
Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)
Until the sell is activated, US500 would be overall bullish and can still trade higher.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
US500 is sitting around the upper brown trendline so we will be looking for sell setups on lower timeframes.
on H1: US500 is forming a channel in blue but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)
Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)
Until the sell is activated, US500 would be overall bullish and can still trade higher.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal