MY SPX500USD LONG IDEA 04/11/2024

anteayer

Direction: Long

SL: 5,619.1

Checklist:

- [x] MA 20 going Upward
- [] Break of Trendline
- [x] Fib level
- [x] Bounce from a Support/Resistance
- [ ] Penetrate a Support/Resistance
- [] Edgefinder Score
- [] Correlation Confluence
- [x] Trading Central Preference


Technical:

1. MA 20 Yellow is above MA 100 and 200 (Purple and Red).
2. No strong trendline reading but if it breaks my bullish purple line then price will go up.
3. Price bounced off from a Resistance zone.
4. FIB level 0.38 @ 5701.3 .
5. Tradingcentral tool signaling Rise on Time frames 15m,1h,4h and daily at the moment.
6. Q4 seasonality is bullish.

Fundamental and economic:

1. I use Edgefinder tool which shows me a score of 2 "Neutral Bullish".
2. We have US elections coming up and regardless of which president wins it’s going to be bullish for USD and stocks.
3. US NFP came out horrible 12k but market wants a revision and is in a speculative state.
5. USD is on the rise after a recovery.
6. VIX spiked a little and is calming down.