SP500 Futures Short September Pullback Falling Wedge 4400 Target

5 set 2023

I am in short at 4516.25 with my stop at 4550 above the swing high. Target is 4415 just slightly above 4400.

A 3 to 1 using only 1 MES. Risking 170.00 for 500.00 potential.

I am basing this trade off of June 1967 as it is identical in nature. I believe we are in the top portion of the falling wedge and price should not come back up here until October where I am anticipating a breakout to new highs.

I want to take 100 points short going down before I try to take 200 points long in October.

5 set 2023

Nota

Setup in June 1967

5 set 2023

Trade attivo

I accept I could always be wrong but I see an opportunity to go short. I expect this trade, if successful, to last about 3 weeks

5 set 2023

Nota

8 set 2023

Trade chiuso manualmente

I closed the trade earlier than was supposed to because it was a counter trend play. I closed it at the daily 21ema at 4465.00 at around a 2 to 1. I am happy with my results. As I am writing this the market gapped up a whopping 50 points back to my break even. I guess I made the right call at that point