US500 3223.4 + 0.53% LONG IDEA * CONTINUATION & FUNDAMENTALS

Good Day Everyone

A look at US500 starting from the monthly perspective we remain in a bullish rally for third month in a row hitting ( HH ).
Coming down to the weekly we broke level 3191.3 support level we could see a retest of this level before we see a continuation to the upside this week but on a larger scale we are still net long on the index.
On the daily we broke out of a descending channel rallied up and we are now at level 3236.1 which saw a couple of rejections.

S&P500 is still range bound within structure for now bound in a symetrical triangle on the 4H chart waiting for a breakout of structure to confirm and determine direction amongst other things as we are still net long on higher timeframes the sentiment is still net long.

lets see how it goes.

Good luck and happy trading everyone


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ENTRY & SL - FOLLOW YOUR RULES ON PENDING ODER & SO FORTH
RISK-MANAGEMENT
PERIOD - SWING TRADE

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If you like the idea kindly leave a like and a follow will definitely follow back and leave your idea & Comment on the pair in the comment section.

Trade active:

Move 1 successful adjust SL to break even or just below the Doji on the 4H chart & hold Risk free.....

Comment:

The S&P lost some 1.25% today due to The U.S. Labor Department reporting that 1.4 million people filed for unemployment insurance for the week ended July 18, up 109,000 from the prior week and above economists' estimates of 1.3 million.
Still think we'll see continuation patten in a gutley formation let's see how it goes