S&P500: How to Trade Using Price Channel
US SPX 500 OANDA:SPX500USD
The price has been moving sideways in the borders of a horizontal price channel . It is a consolidation period and we can trade using the breakout signals.
If the price breaks the resistance, it will be a possible buying opportunity with the main profit target at 3676.2$ resistance.
If the price breaks the support, it will be a possible trade opportunity for shorting. The profit target will be at 3470$.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Source: TW DLavrov