SPX500

Back Testing

It looks like SPX might go up and hit 3090.

POSSIBILITIES:

If it breaks 3090 it will head up to 3156. (Look for a BUY)

If it does not break 3090 it will head down to 3017 again. (Look for a SELL)


This Back Test consist of:

Support and Resistance (Key zones Market react to)

Break in Market structure (Market creates new highs and new lows)

Seeing where the trend is going (Up trend or Down trend)



What is my risk:

Well my risk is always, 15 to 20 pips.

Lot size is .01 because on SPX, 1 PIP is $1.

My take profit is the next zone or it is usually 50 PIPS. ( I try not to be greedy, if the market is doing something weird I'm taking my profits out )