Lingrid

US500 good time to open BUY TRADE

Long
CURRENCYCOM:US500   S&P 500
Since November last year, we have seen the price of the index move in a strong uptrend, formed within two lines: support - September 2020 and resistance - November 2020.

Apart from a few false breakouts of the support line, the price generally follows the trend and continues to grow. At the beginning of the trade, it touched the resistance line 3831.9 and fell to support.

And then it made a false breakout of the support line in the 3778.3 area. However, at the beginning of this week, the price returned to the line and now I expect that after fixing on it, the index will begin to grow. Thus, this is an excellent position to open a buy trade!

I will never tire of reminding you of the importance of SL - in this situation look for it below the support line at 3769.6.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
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Comments

@Lingrid, Seems all the Indices are gray zone, I wish you good luck with the trade. I would wait for the clear direction. Let's wait and see Mr Biden's honeymoon rally will continue or give up!
+1 Reply
Lingrid Prasad_Ari
@Prasad_Ari, 👌
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Good idea, Lingrid
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Great
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Good idea, Lingrid
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Lingrid DeGRAM
@DeGRAM, thank you)
Reply
Thank you.
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Lingrid Verkaas
@Verkaas, welcome)
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it will be touch your sl, best of luck i hope it will be in your favor.
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Lingrid BruceWebTeam
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