SPX500 trade ideas
SPX next 5 years outlookIn this chart I show my SPX long term view from covid recovery to about 2030.
SPX is moving in a big rising wedge, I think that on the long term prospective we're still in the 3rd bullish wave targeting 6440 area. From there I see a retracement (4th wave) to 4800 area before last bullish 5th wave to 7400 area.
From 7440 I see a sharp bearish retracement , the breaking of rising wedge will lead spx to target 4200 area.
On the medium term I think that we've to test 3320 area before targeting 6440 (completion of 3rd wave), but on the short term I see a retracement to retest 6000 area before dump to 3320.
US500 Price ActionHello Trader,
As you can see, the market is currently moving to the downside, approaching a clearly identified Demand Zone. Remember, as I always emphasize: no liquidity, no valid zone. Therefore, I've also marked liquidity levels located just above this Demand Zone, along with a suggested safe Stop Loss (SL) placement. However, please keep in mind that no level is truly "safe" in trading, which is precisely why we always use stop losses and actively manage risk on every trade.
Additionally, I've highlighted two potential Take Profit (TP) areas: one where you might consider closing your trade early for safety, and another where you could hold your position if price action continues to move favorably.
As always, avoid greed, prioritize risk management, and trade responsibly.
Wishing you all the best and happy trading!
Thank you.