We are expecting a drop in the S&P later tonight based on what the charts are telling us.
1) The high of S&P is at 6118 and 6130.
2) There is a pattern to sell at the current level of 6080.
3) Yesterday's high to resist the trade.
4) H1 divergence present as well
The optimistic target is 5930 (1:3 risk to reward). We will monitor and post updates here as the trade moves.
1) The high of S&P is at 6118 and 6130.
2) There is a pattern to sell at the current level of 6080.
3) Yesterday's high to resist the trade.
4) H1 divergence present as well
The optimistic target is 5930 (1:3 risk to reward). We will monitor and post updates here as the trade moves.
Trade active
The trade went as planned. We closed half the position at 6035 with about 0.85% profit. Trade closed: target reached
Closed the trade with 1.5% profit. Missed the big leg down so closed the 2nd position at 6048
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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.