SPX500 H4 | Falling to 38.2% Fibonacci supportSPX500 is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 5,807.01 which is a pullback support that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 5,760.00 which is a level that lies underneath an overlap support and the 23.6% and 61.8% Fibonacci retracement levels.
Take profit is at 5,881.22 which is a swing-high resistance close to the all-time high.
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Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
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