S&P500 The 4H MA50 is the key

Pattern: Bullish Megaphone.

Signal: (A) Buy if after the 4H MA50 break-out (blue trend-line), the level holds (as on Feb 02 – 04). If it doesn’t, (B) sell towards the lower (-) Fibonacci extensions (as on March 01 – March 04).

Target: (A) The 0.5 Fib (rough estimate 4040). (B) The -1.5 Fib (rough estimate 3800).

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Tradingview link:

https://www.tradingview.com/chart/SPXUSD/DwsPYnLb-S-P500-The-4H-MA50-is-the-key