S&P500: Price Channel and New Buy Signal
The market gives us an amazing opportunity to trade in the borders of a horizontal price channel. We could have 2 profitable trades and now it is the time for the 3rd trade. The price bounced from the support zone and moved up. It gave us a buying opportunity with stop orders below the local swing low and the support level and the profit target at the resistance zone.
If you missed the 1st green candle, probably you should wait for a new pullback and a reversal from the support zone. It will give a better entry point and risk/reward ration as well.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If you missed the 1st green candle, probably you should wait for a new pullback and a reversal from the support zone. It will give a better entry point and risk/reward ration as well.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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