SPX500 - Will We Carry On Pushing Higher?

11 Ağu 2023

Analysis:
Bullish Confluences

• Strong upwards trend
  
• Retesting a previous key level
  
• 61.8% fib retracement level touch
  
• Long term upwards trendline touch
  
• Falling wedge pattern forming
  
• 3k long position decrease for the USD
  

Stay Safe- The JPI Team
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Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.

11 Ağu 2023

İşlem aktif

Our entry requirements have been met and our order has been filled. We are long looking for price to continue this bullish rally that we're in and head higher.

17 Ağu 2023

İşlem kapandı: durdurma seviyesi

Trade Closed
(-1R) Lost
After Trade Comments:
This trade showed good signs at the start as we saw price have a nice initial pop to the upside, but ultimately the USD strength came in and price crashed to the downside eventually stopping us out. This is another loss that we've taken but for full honesty we're not worried at all. Losing is a part of trading and losing this many trades in a row is within our plan so there is no need to worry. We've also got trades which are running in great profit, outweighing these losses. We know our plan and strategy so we have no need to worry as this is within our limits. This is why we urge traders to know their strategy completely. This will take a lot of stress otr of your trading because there isn't any need to worry about a losing streak if you know that it's completely normal. If you haven't tested your strategy then you won't know if this is normal or not causing you to stress a lot more then you need to which in turn will have a negativeaffect on your trading. Backtest your strategy. Know the statistics. Trust your plan.

Stay Safe - The JPI Team