Good Day Everyone'
A look at the S&P500 which has been trading in ascending triangle on the 4H chart looking for a break above of structure to trigger the trade looking for continuation of the trend to the upside with the bulls. The S&P 500 and Nasdaq closed at record highs on Friday, as data pointed to some pockets of strength in the U.S. economy.
INVEST.COM - report showed U.S. home sales rose at a record pace for a second straight month in July and home prices hit all-time highs. unexpectedly sharp increases in Markit's indexes extend a pattern of choppy U.S. economic data this week - including weekly jobless claims - that paint a picture of a fitful recovery from the COVID-19 recession.
"It's not surprising to see a pickup in manufacturing as the economy has started to reopen, even though pockets of the country have pulled back on their reopening," said Lindsey Bell, chief investment strategist at Ally Invest. "It's an encouraging sign and it supports the upside we have seen in the markets."
https://za.investing.com/news/us-stockssp-500-nasdaq-end-at-records-after-upbeat-business-surveys-2158480
we'll see how it goes.
HAPPY TRADING EVERYONE
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
TP 1 - 3440.0
TP 2 - 3480.0
SL - 3377.9
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
A look at the S&P500 which has been trading in ascending triangle on the 4H chart looking for a break above of structure to trigger the trade looking for continuation of the trend to the upside with the bulls. The S&P 500 and Nasdaq closed at record highs on Friday, as data pointed to some pockets of strength in the U.S. economy.
INVEST.COM - report showed U.S. home sales rose at a record pace for a second straight month in July and home prices hit all-time highs. unexpectedly sharp increases in Markit's indexes extend a pattern of choppy U.S. economic data this week - including weekly jobless claims - that paint a picture of a fitful recovery from the COVID-19 recession.
"It's not surprising to see a pickup in manufacturing as the economy has started to reopen, even though pockets of the country have pulled back on their reopening," said Lindsey Bell, chief investment strategist at Ally Invest. "It's an encouraging sign and it supports the upside we have seen in the markets."
https://za.investing.com/news/us-stockssp-500-nasdaq-end-at-records-after-upbeat-business-surveys-2158480
we'll see how it goes.
HAPPY TRADING EVERYONE
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
TP 1 - 3440.0
TP 2 - 3480.0
SL - 3377.9
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Trade closed: target reached:
🔵 Target 1 successful- Adjust SL to break-Even & hold risk free..
