Breaking down a movement for TVC:SPX by Moshkelgosha

My goal is to help others see the reason behind my analysis and hopefully they learn something new or at least review what they already know
I believe to be successful in the analysis regardless of the timeframe you should breaking it down to pieces and manage it piece by piece:

1- A bull trend is a period of time in financial markets when the price of an asset or security rises continuously.

2- A sideways trend is the horizontal price movement that occurs when the forces of supply and demand are nearly equal. This typically occurs during a period of consolidation before the price continues a prior trend or reverses into a new trend. A sideways price trend is also commonly known as a “horizontal trend.”

3- A breakout refers to when the price of an asset moves above a resistance area , or moves below a support area . Breakouts indicate the potential for the price to start trending in the breakout direction. For example, a breakout to the upside from a chart pattern could indicate the price will start trending higher.

4- A pullback is a temporary reversal in the price action of an asset or security. The duration of a pullback is usually only a few consecutive sessions. … Pullbacks can provide an entry point for traders looking to enter a position when other technical indicators remain bullish .

5- Resistance occurs where an uptrend is expected to pause temporarily, due to a concentration of supply.

Reference Articles:,as%20a%20%22horizontal%20trend.%22,price%20will%20start%20trending%20higher.,only%20a%20few%20consecutive%20sessions.&text=Pullbacks%20can%20provide%20an%20entry,other%20technical%20indicators%20remain%20bullish.

Now let’s review my trading setup published last week:

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