TA_Trading
Long

S&P 500 4H Long

SPCFD:SPX   S&P 500 Index
An inverse head and shoulders formed, with a right shoulder break of the neckline. Measuring the distance from the head to the neckline, a reasonable target could be found slightly less than this distance applied to the breakout. In addition, long term resistance line can be found to intersect with this potential target zone.

The ADX line looks to be turning upwards after a downward trend, currently at 38.

A Stop Loss zone below the right shoulder would be appropriate.

*Not financial advice*

Comments

Finally seeing someone going long on SPY on TD... most of the public here is short on SPY :) I don't bet against Trump so for full year, i was long and added on dips. Cheers!
+2 Reply
TA_Trading Bullandbeartrading
@Bullandbeartrading, Thank you! You too!
Reply
It is likely this movement.
+1 Reply
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