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.