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.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.