BEARISH FLAG on S&P 500
We never got the pullback we wanted for our entry, but a very clear Bearish flag has developed. I'd like to see some confirmation and atleast retracement to the 38.2% fib level. We will see! - Happy Trading
Note
The current break out is a news driven event IMO. if we go higher than the 61.8% Fib, I'd reevaluate.Trade closed: target reached
This trade worked out swimmingly, I'm sure many of you caught it. I use Tradingview for analysis and posting, but I execute in MT4. My original stop (I "almost" never move stops) I was settled just above the weekly pivot, glad I was.
I moderate a small community 4 traders, analyzing weekly charts, and discussing trade setups. Focusing on psychology.
I moderate a small community 4 traders, analyzing weekly charts, and discussing trade setups. Focusing on psychology.
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