Dear Trading Idea Traders
The signal from last time was really strong and so far it has returned over 300 pips. It looks like this trading idea has been a great one. Our primary target was the level of 1.5200. There was no reason to close the trade at this level. At the moment it is trading at 1.5338 and I don’t see a reason to take profit (apart from greed). Therefore, I am going to let this profitable position run for as long as it is possible. Let your winners run and cut your losers fast– that is what I am trying to apply. All of the previous daily candles are bullish and so is today’s.
The trading idea from today is coming from S&P 500. I do see a bearish rejection on the daily timeframe. It is a pin bar like candle that has formed just below a major resistance zone. I am considering this resistance, but at the same time I am looking at the major trade and at the intraday charts and they all look bullish.
Therefore, my trading idea for today would be a long trade at 1,116. The stop of this trade is placed just under the nearest swing low at 2,093. Our primary target is the level of 2,130. The secondary one is the level of 2,150, but it all comes down to price action.