S&P500 $2640 not broken. Still bullish. Sentiment Monday decides
S&P500 $2640 is not broken last week. I am Still bullish. The Sentiment next Monday on the market decides if it is the right time to go long again!
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!
S&P500 is in 3 monthly cycle now. I expect this to become an horizontal chart till the end of March. April / May I expect a new hugh climb will start. OR when an invert cycle starts, when lower resistances are broken, a huge short will appear. In my opinion S&P500 is very overbought. One day it will collapse to $2100 area. That will be the retracement to the previous horizontal pattern. Till that time we are bullish!
My strategy is to never trade on volatile markets. You will lose your money when you do! Just like last week, when came up unexpected volatility , we lost two trades S&P500 and also two trades Oil. The won positions a few days before were at a steady market. Trade on technical-chart analysis! not on news and volatility!
Well, 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!
Thank you for following and Succes with trading !
Richard from Rich.Exclusive.Trading
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!
S&P500 is in 3 monthly cycle now. I expect this to become an horizontal chart till the end of March. April / May I expect a new hugh climb will start. OR when an invert cycle starts, when lower resistances are broken, a huge short will appear. In my opinion S&P500 is very overbought. One day it will collapse to $2100 area. That will be the retracement to the previous horizontal pattern. Till that time we are bullish!
My strategy is to never trade on volatile markets. You will lose your money when you do! Just like last week, when came up unexpected volatility , we lost two trades S&P500 and also two trades Oil. The won positions a few days before were at a steady market. Trade on technical-chart analysis! not on news and volatility!
Well, 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!
Thank you for following and Succes with trading !
Richard from Rich.Exclusive.Trading