Sp 500 Short
Setup Reasoning:
-Bearish ABCD Completion
-Bearish Shark inside of it
-1 Hr Uptrend already looks extended
-Bearish Divergence on the Daily
-Volume dropping on the daily
Market is telling me to sell.
Entry Trigger:
Aggressive- Sell Limit @ 3026 (Shark Completion 1.13)
Conservative- Wait for price to cross the Ema and break trendline support
Stop Loss Reasoning:
ATR should be at around 34 pips volatility when it reaches the limit order. Double that amount for stop loss
Take Profit Reasoning:
$2995 is where this bearish shark can switch to bullish 5-0 (50% fib) and we have a high volume node there which means it can act as support.
Setup Reasoning:
-Bearish ABCD Completion
-Bearish Shark inside of it
-1 Hr Uptrend already looks extended
-Bearish Divergence on the Daily
-Volume dropping on the daily
Market is telling me to sell.
Entry Trigger:
Aggressive- Sell Limit @ 3026 (Shark Completion 1.13)
Conservative- Wait for price to cross the Ema and break trendline support
Stop Loss Reasoning:
ATR should be at around 34 pips volatility when it reaches the limit order. Double that amount for stop loss
Take Profit Reasoning:
$2995 is where this bearish shark can switch to bullish 5-0 (50% fib) and we have a high volume node there which means it can act as support.
Note
Price did not trigger entry, came a pip away. Delete pending order
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
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.