Was it a minor pullback? Trading SPX recovery (Jul18)
Fundamentals & Sentiment
USD:
- Fed's stance is stable: wait and see
- Weak Services PMI, Employment, Factory Orders
SPX500:
- Pre-election debates: seasonals are skewed to the upside
- General resistance of stocks lately
Technical & Other
Setup: TR(B)
Setup timeframe: 1hh
Trigger: 15m
Medium-term: Up
Long-term: Up
Min target: local highs
Risk: 0.47%
USD:
- Fed's stance is stable: wait and see
- Weak Services PMI, Employment, Factory Orders
SPX500:
- Pre-election debates: seasonals are skewed to the upside
- General resistance of stocks lately
Technical & Other
Setup: TR(B)
Setup timeframe: 1hh
Trigger: 15m
Medium-term: Up
Long-term: Up
Min target: local highs
Risk: 0.47%
Trade closed: stop reached
Cons:- the ~20h range wasn't broken to the upside - premature entry
- the sentiment wasn't risk-on
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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.
Related publications
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.