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S&P500 Inverse Head And Shoulders and Long Opportunity

S&P500 Inverse Head And Shoulders and Long Opportunity

Description: Index found support at 2670,  broke the bearish trendline and closed the week above EMA 50 on H4 Chart. S&P500 printed an inverse head and shoulders pattern.Breakout of the neckline will trigger the bullish move.

Trade Period: Midterm Trading

Pair / Instrument: S&P 500 

Time Frame: H4

The trend in the Timeframe: Bullish

The trend in the Daily Chart: Bearish

Trade Based On: Inverse Head And Shoulders Pattern

Accuracy: %88

Recommended Lot Size: 0.05@ 10 K Account with 1:100 Leverage

Trade: LONG

The Area Of The Entry: @ market 2740

Stop Loss: Close below 2.680

Target 1: 2.800 

2.810 is the neckline of the I SHS pattern. The formation would be validated by the breakout of the neckline. The trade setup:

Long @ 2820

Target 1 :2865

Target 2: 2930

Target 3: The ultimate target of the formation 3.020

You can follow the setup: S&P500 INVERSE HEAD AND SHOULDERS

 

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Rules To Keep In Your Mind:  Trade Safe. Money  Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.You can contact us via Skype User Name: ChartreaderproDISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

SP500 Inverse Head And Shoulders Pattern: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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