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CompositeTrader

S&P 500 Price Action Analysis | The Direct Proportion

Long
S&P 500 Index (FX:SPX500)  
CompositeTrader Updated   
FX:SPX500   S&P 500 Index
Trend Analysis Chart Patterns Technical Indicators S&P 500 (SPX500) SPX (S&P 500 Index) SPDR S&P 500 ETF (SPY) sp500index sandp sandp500 S&P 500 Indices indice
31
0
trendanalysis chartpattern indicator spx500 spx spy sp500index sandp sandp500 sp1! indices indice
SP500 is still consolidating above the Range High and needs to break out the Key OB. The direct proportion between the volume and the price action (higher highs and higher lows) is indicating that this distribution isn’t done until it reaches its targets.

Entry: 2881
SL: 2719
TP-1: 3089
TP-2: 3219
R/R: 2.09

‪Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.‬


‪The ideas published here are not financial advices. ‬

Trade active:
Partially filled.
Trade closed: target reached
Trade closed: target reached:
Position is fully closed.
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