S&P 500 Long Long

S&P 500SP

Description

⋅ May 17, 2020 8:30 PM

Hi guys im a beginner trader trying to get a hang of the charts. This is my idea on S&P 500. I think that we could see it break through the channel and continue going up to reach the daily resistance. Im not sure how accurate my analysis is but id love to get some feedback from youll and hear your thoughts in the comments.

Trend Analysis Chart Patterns

Comments

Darkside999

⋅ May 17, 2020 9:11 PM

I can tell you are a beginner ..longing in a massive bearflag is the last thing you wanna do..on top of that with the global crisis

AliG69

⋅ May 17, 2020 9:52 PM

@wildbeast, Thanks for the feedback. I didnt recognize that bear flag before but thanks for pointing it out

kayakguy429

⋅ May 18, 2020 2:23 AM

@AliG69, Ascending wedges will nearly always fall. Especially one as cut and dry as the one posted above. Go Review Babypips again.

AliG69

⋅ May 18, 2020 3:33 AM

@kayakguy429, thanks for the advice man... Really appreciate it

aec.alexandru

⋅ May 18, 2020 8:30 PM

@AliG69, Drop the mic I guess hahahahaha

tuongvy0501

⋅ May 18, 2020 8:58 PM

How come that pattern is a bullish one i don’t understand

AliG69

⋅ May 18, 2020 9:32 PM

@tuongvy0501, on the longer time frame I seen triangle tops and bottoms form within the channel which was what I based my long idea on. Only noticed the bearish flag after on the lower time frame

BuckiTrader

⋅ May 18, 2020 5:01 PM

The FED and Trump will push this market to all time highs while shorts are playing with their wedge and triangle patterns. It's your money though shorts...

oscarlali

⋅ May 18, 2020 4:25 PM

Soy un principiante, a las 18:18 hora Madrid, Us 500 a 2944.
Gracias
Oscar

Rscribble

⋅ May 18, 2020 4:00 PM

It's a bear flag. It should fall around 75% of the time, but luckily enough you got it on point this time around haha! Congrats to you on that trade!