Flag PatternHead And Shoulders PatternIndices And StocksIndices Trading Ideas PremiumMidterm Forex Signals And SetupPremiumS&P500 ForecastS&P500 PremiumS&P500 Technical AnalysisStocks Trade Ideas PremiumStocks Trading Ideas PremiumTechnical AnalysisTrade Setups
S&P500 Inverse Head And Shoulders and Long Opportunity
S&P500 Inverse Head And Shoulders and Long Opportunity
Description: Index found support at 2670, broke the bearish trendline and closed the week above EMA 50 on H4 Chart. S&P500 printed an inverse head and shoulders pattern.Breakout of the neckline will trigger the bullish move.
Trade Period: Midterm Trading
Pair / Instrument: S&P 500
Time Frame: H4
The trend in the Timeframe: Bullish
The trend in the Daily Chart: Bearish
Trade Based On: Inverse Head And Shoulders Pattern
Accuracy: %88
Recommended Lot Size: 0.05@ 10 K Account with 1:100 Leverage
Trade: LONG
The Area Of The Entry: @ market 2740
Stop Loss: Close below 2.680
Target 1: 2.800
2.810 is the neckline of the I SHS pattern. The formation would be validated by the breakout of the neckline. The trade setup:
Long @ 2820
Target 1 :2865
Target 2: 2930
Target 3: The ultimate target of the formation 3.020
You can follow the setup: S&P500 INVERSE HEAD AND SHOULDERS
Subscribe to our services free of charge
Subscribe to our premium packages if you would like to get 1000+ instruments analysis and trade signals of Chartreadreadepro.
Forex Signals
JOIN OUR TRADING FLOOR
