S&P 500 Long Trade
Entry: $3,807.4
TP & RR: $3,871.4 (2.29)
Stop Loss: $3,779.5
REASONS FOR THE TRADE
Building upon yesterday's SPX500 trade on which we got stopped out, I am once again trying to catch a bounce up from the lower trendline in a channel.
This time the SL is set much lower and I am not a big fan of having such a wide distance, but I don't want to get stopped again.
Entry: $3,807.4
TP & RR: $3,871.4 (2.29)
Stop Loss: $3,779.5
REASONS FOR THE TRADE
Building upon yesterday's SPX500 trade on which we got stopped out, I am once again trying to catch a bounce up from the lower trendline in a channel.
This time the SL is set much lower and I am not a big fan of having such a wide distance, but I don't want to get stopped again.
Order cancelled
This no longer looks good. I might be wrong and we spike up, but the dollar is going up and this is usually not a great thing to happen when you are long on a U.S. index. If price breaks through the lower trendline things will get ugly pretty quick. If you decide to keep your long position, you may consider opening a short one as a hedge. Whatever direction the price takes, the trend will become pretty obvious and you can close the losing one.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.