Short SPX Double Top Retracement
Updated
World stock markets struggled yesterday, as hopes faded that a Brexit deal would be wrapped by next week. When there are tensions and obstacles in the market, markets tend to be more cautious and pull back
Shorting this opportunity after the breakdown of a double top is a good choice. At the moment, the market had tested the support turned resistance and found sellers at that price in confluence with a 61.8% retracement fib. Proves a good shorting opportunity at this level down to trendline or further horizontal support (TP2)
Strategy used: Double Top Breakdown Retracement (2618)
Personally: I will take my profits @ touch of the trendline.
Good luck!
Shorting this opportunity after the breakdown of a double top is a good choice. At the moment, the market had tested the support turned resistance and found sellers at that price in confluence with a 61.8% retracement fib. Proves a good shorting opportunity at this level down to trendline or further horizontal support (TP2)
Strategy used: Double Top Breakdown Retracement (2618)
Personally: I will take my profits @ touch of the trendline.
Good luck!
Trade active
As long 3015 holds, i'll be adding more shorts.Trade closed: stop reached
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