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Apr 25, 2025

Trade ideas

US500: Expanding wedge

US500, Daily

US500Daily.png

In the Daily timeframe, US500 has formed an expanding wedge pattern in a short-term bearish trend. Price has reached the upper trend line and +DI has crossed -DI on ADX, however %R indicates extreme overbought.

  • A break of the upper trendline above 5500 will open the way to 5800;
  • A bounce off the trendline will drop the price to 5150.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Egor Schmidt

Author: Egor Schmidt

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