SP500 H4 | Rising into 61.8% Fibo resistance

23 авг. 2023 г.

SP500 is rising towards an overlap resistance and could potentially reverse from here to drop lower towards our take profit target.

Entry: 4434.09
Why we like it:
There is an overlap resistance that aligns close to the 61.8% Fibonacci retracement level

Stop Loss: 4478.82
Why we like it:
There is an overlap resistance that sits above the 78.6% Fibonacci retracement level

Take Profit: 4347.89
Why we like it:
There is a swing-low support

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