Obviously, the market is trying to bounce back after a deep sell. We don't know how long it will last, and we don't know how high it will reach.
But we are pretty sure that there are numerous resistances are waiting for the market.
I would like to short this market when there are exhausted candle sticks at the top of the bounce.
Remember to set the stop loss to avoid bull's trap.
But we are pretty sure that there are numerous resistances are waiting for the market.
I would like to short this market when there are exhausted candle sticks at the top of the bounce.
Remember to set the stop loss to avoid bull's trap.
Note
Several potentially bullish candle sticks
Note
It did goes up! But we could find that the MACD and RSI are moving forward to the overbrought zone. We are just get more and more close to the storm.
Note
The S&P is moving more and more close to the strong resistance area. Let's see if my prediction is work.
I will start my short position at 2690. The market may goes as higher as 2815, so remember to prepare enough bullets for placing the short positions at different resistance level :D
Finally, the most important thing, set the stop loss.
Trade closed: stop reached
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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.