S&P 500 IndexShort
S&P500 Entry Level
Price bounced from the resistance level and moved lower. We have an entry level below 2170 for opening short trades. There are following arguments for this:
- on the daily chart price bounced from the resistance level
- on the daily chart MACD falls and confirms down movement
- we have double top pattern on 4H chart
- we have confirmation for opening short trades from MACD and DMI on 4H chart
Place a stop order above the resistance level and a take profit order near the support level. If price breaks 2150 the following target can be 2100.
- on the daily chart price bounced from the resistance level
- on the daily chart MACD falls and confirms down movement
- we have double top pattern on 4H chart
- we have confirmation for opening short trades from MACD and DMI on 4H chart
Place a stop order above the resistance level and a take profit order near the support level. If price breaks 2150 the following target can be 2100.
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