$SPX . Taking profit and resistance at 1260

I establish a long position when the market hits 1160. On the chart, it was sitting right on the kumo support.

My long position was established with the belief that the year end rally will materialise and the Euro issues will be sorted out (at least temporarily).

With this strong rebound and a resistance of 1260 ahead, I have taken my profits and close off positions for the year. With this strong rally, there is a high chance that 1260 will be taken in a week or two and the rally will continue till year end.

Thinking back, this year has been a good year for me. I made the most money during the volatile period. It is time for a little celebration.

Throughout December, I will be looking through my past trades and reflect on areas where I can do better.

Here’s wishing everyone a great festive season and a great new trading year ahead.

By iam802

Trend trading with Ichimoku