S&P - What's more important? Technical Analysis or Fundamentals?
LONG - SPX500USD
SL: 3086.9 (Suggested by our algorithmic system)
TP: 3158.8 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Price on support trendline
2. Volume indicators suggest that S&P is still accumulating
3. Stochastic indicator going into oversold zone
Caution: MACD showing signs of weakness. Negative economy news is circulating around, e.g. Trade War, US Debt, Fed Interest Rates, slow economy growth projection by some analytics
---------- Chart Drawings ----------
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co/6gDLVcW (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
SL: 3086.9 (Suggested by our algorithmic system)
TP: 3158.8 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Price on support trendline
2. Volume indicators suggest that S&P is still accumulating
3. Stochastic indicator going into oversold zone
Caution: MACD showing signs of weakness. Negative economy news is circulating around, e.g. Trade War, US Debt, Fed Interest Rates, slow economy growth projection by some analytics
---------- Chart Drawings ----------
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co/6gDLVcW (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
Note
Was this a false or valid breakout to the downside? Time will tell. :)Trade active
Please adjust your SL if you haven't already to lock in some profit. I'm unable to upload app screenshot at this time.Trade closed manually
Our app closed the trade at 3131.2 - 84.6% profitApp screenshot ibb.co/PQC9xzf
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.
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.