S&P 500 IndexShort
Sell opportunity
Trade Signal:
Trade Type: Short (Sell)
Entry Point:
Enter short around 5,972–5,975 to capitalize on the resistance zone.
Take Profit (TP):
TP1: 5,674.56 (initial support level).
TP2: 5,567.46 (stronger support indicated by the volume profile).
Stop Loss (SL):
Place a stop-loss above the resistance at 6,016.60.
Risk/Reward Ratio:
With TP2, the trade offers a solid risk/reward ratio, given the expected downward move of ~6.75%.
Analysis of the Chart:
Price Level: The S&P 500 index is currently at 5,969.33, nearing resistance at around 5,972.90, with a projected downward move.
Volume Profile: A significant distribution of volume in the orange zone below indicates strong support between 5,560 and 5,569.
Momentum: The momentum histogram at the bottom is showing red bars, indicating a loss of bullish momentum and the potential onset of a bearish trend.
Trendline: The upward trend has flattened, signaling a potential reversal.
Trade Type: Short (Sell)
Entry Point:
Enter short around 5,972–5,975 to capitalize on the resistance zone.
Take Profit (TP):
TP1: 5,674.56 (initial support level).
TP2: 5,567.46 (stronger support indicated by the volume profile).
Stop Loss (SL):
Place a stop-loss above the resistance at 6,016.60.
Risk/Reward Ratio:
With TP2, the trade offers a solid risk/reward ratio, given the expected downward move of ~6.75%.
Analysis of the Chart:
Price Level: The S&P 500 index is currently at 5,969.33, nearing resistance at around 5,972.90, with a projected downward move.
Volume Profile: A significant distribution of volume in the orange zone below indicates strong support between 5,560 and 5,569.
Momentum: The momentum histogram at the bottom is showing red bars, indicating a loss of bullish momentum and the potential onset of a bearish trend.
Trendline: The upward trend has flattened, signaling a potential reversal.
GODO Capital Markets
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.
GODO Capital Markets
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.