We are looking to short SPX in anticipation of a possible double top formation. We had almost 3 weeks of ascending price levels until last week when price just couldn't close above 3500 level on the weekly. We had bears waiting at this price zone early September and we are likely to see them again push price further down to complete the double top. The strong Yen we are anticipating this week is also a good confluence factor in this trade. Just like the dax the lagging is can move unconstrained.
Entry: 3483.8
SL : 3572
TP : 3210
RR : 3.1
Position sizing is critical,the only certainty in trading is you will lose money,how much you lose is entirely up to you:)
Entry: 3483.8
SL : 3572
TP : 3210
RR : 3.1
Position sizing is critical,the only certainty in trading is you will lose money,how much you lose is entirely up to you:)
