SPX500 Short (wait for retracement first)
The FED rate hike now being behind us, I'll try to focus on new trend to start or actual trend to continue.
Regarding the SPX500, I'm expecting a reversal of the current bullish trend (4h/1d timeframe). I'll wait for the price to retrace to the 2264 level, then to go short to the previous resistance now becoming support around 2215.
Entry : 2264
Stop loss : 2280
Target : 2215
Risk ratio : 3/1
Regarding the SPX500, I'm expecting a reversal of the current bullish trend (4h/1d timeframe). I'll wait for the price to retrace to the 2264 level, then to go short to the previous resistance now becoming support around 2215.
Entry : 2264
Stop loss : 2280
Target : 2215
Risk ratio : 3/1
Order cancelled
The latest bullish candle on the 60min chart was impulsive (which is not what we are looking for for a retracement/reversal).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.