S&P sell signal
Bearish elements:
An ideal trade would be from 2790 to 2720. However we have the monthly pivot in the way around 2776.
Proposed trade:
Direction: short
Entry: 2790
Target: 2640
Stop: 2870
Reward / Risk ratio: 2
The ratio is not great so be extra careful.
- Weekly RSI crossing down its neutral zone
- Weekly MACD negative
- 2h RSI broke its bullish support
- Bearish divergence on 2h MACD
An ideal trade would be from 2790 to 2720. However we have the monthly pivot in the way around 2776.
Proposed trade:
Direction: short
Entry: 2790
Target: 2640
Stop: 2870
Reward / Risk ratio: 2
The ratio is not great so be extra careful.
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.