Hi guys, here is my analysis on
SPX500USD
.
How you can see in the chart, the price is going to touch the trend line. When it will do it, the RSI should be in the oversold zone.
If the price keep falling throug, it should make a divergence between the price and the RSI when it will be close to the SMA(200).
This is why i think the SPY will reverse.
The TP for this trade will be at 3706$ (orange rectangle) for both entry point. If you enter at the SMA(200) I advice you to set an additional TP at half of the race, around 3641$, to close half of the trade and of course I also advice you to move your SL.
Follow me for other analysis and if you have any question or suggestion let me know commenting below.
Thanks for reading.
SPX500USD
. How you can see in the chart, the price is going to touch the trend line. When it will do it, the RSI should be in the oversold zone.
If the price keep falling throug, it should make a divergence between the price and the RSI when it will be close to the SMA(200).
This is why i think the SPY will reverse.
The TP for this trade will be at 3706$ (orange rectangle) for both entry point. If you enter at the SMA(200) I advice you to set an additional TP at half of the race, around 3641$, to close half of the trade and of course I also advice you to move your SL.
Follow me for other analysis and if you have any question or suggestion let me know commenting below.
Thanks for reading.