S&P 500 – Corrective Pullback Into 20 EMA | Oct 27
NOTE: We only have 17 seats left for our London Trading Seminar on Nov 14th & 15th. This event will fill up so if you are looking to change the way you think, trade & perform, then reserve your seat now.
S&P 500 – Corrective Pullback To 20 EMA (4hr chart)
After launching post draghi speech like most global indices, the S&P 500 has gained over 50 points before hitting key resistance around 2075. Looking at the structure of the pullback, it’s showing an impulsive and corrective structure with the latter pullback into the 20 EMA.
Bulls have come in off this and the ST support around 2060. If this holds short term, we should see an attack on the recent highs and then a move towards 2100. If 2060 folds, then I’m expecting buyers to step back in around 2036. Only a daily close below 2030 would negate my ST bullish bias.
Our Advanced Traders Mindset Course is launching this week and we are adding 8 new videos so 20 videos in total + the 12 lesson meditation series. No matter what strategy you are using, if you do not have a brain and mindset wired for success, you will not profit.
Check out our ATM Course and how it can wire your brain for success.
Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.
Want to Learn Price Action Strategies for Trading Forex?
Sign Up for our Monthly Newsletter and Get our FREE E-Book