Indice S&P 500Short
Downtrend ahead
Hello traders,
SPX prints a corrective structure and it is not yet finished.
Shortly after top is broken, a C wave is expected.
Clues for that:
- RSI gives divergence visible on daily, weekly and monthly charts
- top levels of 2955 doesn't hold and chart doesn't show strong price action
Rejection:
- strong daily bar above 2955 levels
Prognosis:
- final destination around 2385-2369 (19,5% down move)
- intermediate stop - 2586 levels (0618 Fib retracement level)
Trade:
Wait for confirmation of the reversal on daily.
Put stop loss
Do not risk more than 1-2% of your account, based on your stoploss. If you don't know how - ask me.
SPX prints a corrective structure and it is not yet finished.
Shortly after top is broken, a C wave is expected.
Clues for that:
- RSI gives divergence visible on daily, weekly and monthly charts
- top levels of 2955 doesn't hold and chart doesn't show strong price action
Rejection:
- strong daily bar above 2955 levels
Prognosis:
- final destination around 2385-2369 (19,5% down move)
- intermediate stop - 2586 levels (0618 Fib retracement level)
Trade:
Wait for confirmation of the reversal on daily.
Put stop loss
Do not risk more than 1-2% of your account, based on your stoploss. If you don't know how - ask me.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.