SPX500USD Swing Trade Buy
My investor, Mr Goh pumped in 300$ SGD into my account yesterday by bank transfer and asked me to trade for him first.
I saw the opportunity today on SPX500USD and I long-ed it.
My initial analysis took place on the Daily Time Frame, where the previous Black Friday Sales discount was around the price zone of 10EMA(plot it to see how the price rebound from that discount zone in the previous few moves).
I expected the same strength from this year's Black Friday Sale, too, and the discount offered was similar to previous years traditional price.
I am going for two TPs.
First TP : 1R
Second TP : 1.41R
As usual, I might take things off when the price shows that it doesn't have enough demand to push prices higher.
WIll be setting the first and second order to near Breakeven when the 1st TP gets triggered(or almost get triggered).
I saw the opportunity today on SPX500USD and I long-ed it.
My initial analysis took place on the Daily Time Frame, where the previous Black Friday Sales discount was around the price zone of 10EMA(plot it to see how the price rebound from that discount zone in the previous few moves).
I expected the same strength from this year's Black Friday Sale, too, and the discount offered was similar to previous years traditional price.
I am going for two TPs.
First TP : 1R
Second TP : 1.41R
As usual, I might take things off when the price shows that it doesn't have enough demand to push prices higher.
WIll be setting the first and second order to near Breakeven when the 1st TP gets triggered(or almost get triggered).
Note
Manually closed the trade because price has failed to take off.Also, I noticed that I made an error in reading the price movement on the Daily Time Frame.
Error being that, the health of the current flag pole(Impulse move) is smaller than the previous flag poles. Meaning that the demand might be dying down for the short term.
Anyway, exited for 0.02R at 0.19$ SGD per trade. Totalling, 0.38$. Risking 14$+- per trade, totalling almost 30$ in two trades.
1029SGT
07032024
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