SPX Bullish breakout setup - 1HR
All higher timeframes are in bullish territory, except the weekly which is consolidating, so everything is pointing bullish.
The 1 Hour chart as well as the daily chart are on bullish setups, which gives me a high probability that if the hourly chart triggers, the daily will follow through. I expect to blow through the first two resistance level, but we’ll have to wait and see.
The initial stop seems large, but will move up when the trade is triggered. Watch for overextension signals to tighten the stop.
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Stay calm, and happy trading!
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