The 5%ers' Blog

How SPX500 Index Will Open This Trading Week

May 5, 2019 | 11:30 am | The 5%ers' Blog
May 5, 2019 | 11:30 am
The 5%ers' Blog

Sunday  05/05/2019

SPX500 Index like most of the other indices creates a new record recently.

a new record means that the price is too high and as forex traders, we need to look for sell position, First, we need to find A good setup to sell the SPX500, as we can see on the chart attached, there are 2 reasons that indicate it’s a good time to sell,

1- Divergence: as we can see, there is a very clear divergence between the price and the MACD indicator, while the price creates a higher high, the MACD shows a lower high, that divergence Indicates that the recent uptrend was powerless at the end of it,

2 – Supply Level: exactly where the price now, it’s a great supply level for sell position, it’s a great level for sell as long as the price will open the week in the same area, the demand below will be The target and also a great level for buy position.

Share:

Follow us: The 5%ers on Facebook The 5%ers on Linkedin The 5%ers on Instagram The 5%ers on Twitter The 5%ers on YouTube

Get notified

whenever we publish a new article

    we fund trader

    WE FUND FOREX TRADERS!

    The5%ers let you trade the company’s capital, You get to take 50% of the profit, we cover the losses. Get your trading evaluated and become a Forex funded account trader.

    Get Your Forex Funded Trading Account

    Your message is underway!

    You will be hearing from us shortly