SPX short, round 2.
Updated
Oh yes, might this be the time for a revenge?
Here we go.
Entry price and targets on chart.
Exit also on chart.
Last candle volume (on SPX daily) was below average, no huge accumulation going on apparently.
For this setup, risk/reward ratio is well positive at 2.4.
This might change as you manage the trade on the way down.
If wave II is confirmed, then we might be officially entering a third wave down, 2300 zone.
Also, curious thing: second BEAR flag is forming.
Things to have in mind:
I'll update if I see anything strange, please stay tuned.
If you want to adapt to what market is doing as it evolves...
Contingency plan:
Wait for that reversal to take up to 2750 (78.6 Fib) zone, reenter and wait for the correction to get out.
The extra risk involved is not particularly high. Remember to manage it accordingly since we are going against the historical trend.
Good luck.
Cheers.
Here we go.
Entry price and targets on chart.
Exit also on chart.
Last candle volume (on SPX daily) was below average, no huge accumulation going on apparently.
For this setup, risk/reward ratio is well positive at 2.4.
This might change as you manage the trade on the way down.
If wave II is confirmed, then we might be officially entering a third wave down, 2300 zone.
Also, curious thing: second BEAR flag is forming.
Things to have in mind:
- Earning Reports
Coming following weeks starting April 2nd. - NFP on friday
Expect huge volatility and quite irrational movements. Wait for the dust to settle.
I'll update if I see anything strange, please stay tuned.
If you want to adapt to what market is doing as it evolves...
Contingency plan:
Wait for that reversal to take up to 2750 (78.6 Fib) zone, reenter and wait for the correction to get out.
The extra risk involved is not particularly high. Remember to manage it accordingly since we are going against the historical trend.
Good luck.
Cheers.
Note
Pending order deleted. Went short on DOW and Nasdaq. I'll look for a good entry point for spx soon.Order cancelled
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