Trading Idea 002: S&P500
Market Conditions:
- trend reversal
- bullish sentiment in the market
Key Level and Lines:
- $4015.4 resistance
Trading Ideas:
- go long after a consolidation above $4000
- a false breakout and bearish sentiment in the market = trade opportunity for shorting.
- trend reversal
- bullish sentiment in the market
Key Level and Lines:
- $4015.4 resistance
Trading Ideas:
- go long after a consolidation above $4000
- a false breakout and bearish sentiment in the market = trade opportunity for shorting.
Note
Plan A failed. The long position was closed by stop. Plan B activated a short trade. for this, we used a false breakout signal above the resistance.
The price reached the 1st profit target = 1:3 r/r ratio.
Trade closed: target reached
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