SPX500 intraday trade
Updated
Hello traders and analysts,
Here is a quick trade currently in play.
What is price showing us?
A discount from the high has been offered by the market - with the 0.705 Fibonacci respected.
It is important here to not - the price has broken from the rejection to fill more orders from this hourly offering candle.
Using the 4 hour - price has had a nice clean move - and now is tailing off into a consolidation after yesterday move.
If price breaks 3420 - sell liquidity is now activated further offering a low resistance trade.
Our entry:
We are long - entry of 3423 - however chart will read 3427 as Oanda is slightly out as price did not reach the zone the broker has.
Quick psychology:
Good luck, when happy - cut the trade to let the remainder run.
If in drawdown - cut losses if pips fall and panic sets in. This should not happen as using correct risk/reward allows the correct trading plan to win or lose.
We hope this mini breakdown helps.
Best of luck,
Team Lupa.
Here is a quick trade currently in play.
What is price showing us?
A discount from the high has been offered by the market - with the 0.705 Fibonacci respected.
It is important here to not - the price has broken from the rejection to fill more orders from this hourly offering candle.
Using the 4 hour - price has had a nice clean move - and now is tailing off into a consolidation after yesterday move.
If price breaks 3420 - sell liquidity is now activated further offering a low resistance trade.
Our entry:
We are long - entry of 3423 - however chart will read 3427 as Oanda is slightly out as price did not reach the zone the broker has.
Quick psychology:
Good luck, when happy - cut the trade to let the remainder run.
If in drawdown - cut losses if pips fall and panic sets in. This should not happen as using correct risk/reward allows the correct trading plan to win or lose.
We hope this mini breakdown helps.
Best of luck,
Team Lupa.
Trade closed: target reached
and done
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