SP500 exactly 50%Fibonacci sequence now. Next week target? read:
From this point the price can fall back (retrace) to 2.735 or even 2.693. But also it it possible the positive trend climb further to 2.791 or 2.827 !!
Not the moment to decide now. Let's wait the week to close and let's see how Monday starts. The news around steel and aluminum taxes are calming down.
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S&P500 is in horizontal pattern now and I expect this to continue during March and partly April. Maybe the end of April / March a new cycle will start and I expect it to climb further to $3000 dollar! ofcourese we will have some turbulence till we reach that. Another possibility is that it will break the lower resistances and an short cycle starts! than we will have huge shorts an retracemets to $2100 probably! but this can also take some time and happen in more far future. When we decide to go long next week and when we open a long trade, the exact positions of where to open, to close and the stop loss position is very important to be successful with trading!
My strategy is to never trade on volatile markets. You will lose your money when you do! Trade on technical-chart analysis! not on news and volatility!
One of my other strategies is that trades are only interesting and ‘safe’ to open when: you can possibly lose 1/3rd of the possible profit. So; when you set the indicators after analysing resistances, and you can lose 100 but win 300, it is worth the try!
How do I decide to open a position or not? First I analyse:
- sentiment on the market > are people in buy mode or short mode
- I have some own created indicators, some I show in my charts.
- and this own indicators tell me If a new long position starts or a new short > these are the positions where I place my orders!
- and again other own created indicators tell me how far long or short it probably goes. The take profit and stop loss positions are Other positions than the resistances in the market!
And that is Why I win more than I lose. Patience is everything, we’ll wait for the right moment!
Most of the times the sentiment changes on Monday! and Tuesday is a calm trading day.
Like my analyses? don't forget to follow me, so you get updated when I post new ones. Also read my account and the 'status updates' to be informed.
Thank you for following and Succes with trading !
Richard from Rich.Exclusive.Trading
Not the moment to decide now. Let's wait the week to close and let's see how Monday starts. The news around steel and aluminum taxes are calming down.
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
S&P500 is in horizontal pattern now and I expect this to continue during March and partly April. Maybe the end of April / March a new cycle will start and I expect it to climb further to $3000 dollar! ofcourese we will have some turbulence till we reach that. Another possibility is that it will break the lower resistances and an short cycle starts! than we will have huge shorts an retracemets to $2100 probably! but this can also take some time and happen in more far future. When we decide to go long next week and when we open a long trade, the exact positions of where to open, to close and the stop loss position is very important to be successful with trading!
My strategy is to never trade on volatile markets. You will lose your money when you do! Trade on technical-chart analysis! not on news and volatility!
One of my other strategies is that trades are only interesting and ‘safe’ to open when: you can possibly lose 1/3rd of the possible profit. So; when you set the indicators after analysing resistances, and you can lose 100 but win 300, it is worth the try!
How do I decide to open a position or not? First I analyse:
- sentiment on the market > are people in buy mode or short mode
- I have some own created indicators, some I show in my charts.
- and this own indicators tell me If a new long position starts or a new short > these are the positions where I place my orders!
- and again other own created indicators tell me how far long or short it probably goes. The take profit and stop loss positions are Other positions than the resistances in the market!
And that is Why I win more than I lose. Patience is everything, we’ll wait for the right moment!
Most of the times the sentiment changes on Monday! and Tuesday is a calm trading day.
Like my analyses? don't forget to follow me, so you get updated when I post new ones. Also read my account and the 'status updates' to be informed.
Thank you for following and Succes with trading !
Richard from Rich.Exclusive.Trading