YunFeng8
Long

SPX 500 Ready for the bounce

OANDA:SPX500USD   US SPX 500
*Steady uptrend in bigger timeframe
*Strong impulse
*Price is making correction at the moment
Buy the breakout

SL: 2739
TP: 2938

RR Ratio 3:1

HOW TO TRADE:
1) Wait for the price to pullback to the structure
2) Watch the price action in the buying/selling zone, if the price shows a signal/rejection in the structure enter the trade.
3) Adjust stop loss to break even when the price already runs 1:1 RR ratio in our favor.

(Note: Do not enter the trade if the price do not come to the buying/selling zone).

This trade is using trend following strategy, Loss small, Win BIG.

Remember to always follow these rules: (1) Cut losses. (2) Ride winners. (3) Keep bets small. (4) Follow the rules without question. (5) Know when to break the rules.

You can always take your profit based on your own trading style. It's your call.

Good luck.
Great trade idea!! lets see what unfolds :)

Will the market move up towards recent highs or will the market fail and turn into a bear market?
Reply
YunFeng8 BenWright21
@BenWright21, Thank you :D
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