Is it advisable to consider a buy position in the S&P500?
The S&P500 has recently reached an all-time high, and despite the ongoing bullish momentum, purchasing at this elevated level entails increasing risk. The initial demand zone labeled as Demand - 1 appears to be a favorable entry point for a buy position. However, given the current high level, it is advisable to monitor for a potential breakout from this demand. In the event of such a breakout, it could present a lucrative opportunity for a sell position, with the lower demand marked as Demand - 2 serving as the target. Furthermore, considering the safety of a buy position, it may be prudent to await a touch of the price to the Demand - 2 zone before initiating a purchase.
City Traders Imperium | Funding For Traders
- Est. Since 2018.
- Up to 100% Profit Share.
- Balance Based Drawdown.
- 1-Step & 2-Step Funded Accounts.
citytradersimperium.com/
- Est. Since 2018.
- Up to 100% Profit Share.
- Balance Based Drawdown.
- 1-Step & 2-Step Funded Accounts.
citytradersimperium.com/
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