Short

Updated

SPX is about to form a bearish ABCD

Hi pros!

ABCD pattern suggest that the price need a small pullback
after reaching the first PRZ (red)
and pullback to at least the EMA's or maybe
on the second PRZ (blue)

Of course we are in a bull market so
a confirmation in 4H or daily
is recommended before entering short

seems interesting to look for
an opportunity to short at 3260

Note

an other bigger ABCD pattern aim for the same PRZ

Trade active

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Hold it

and if price reach 3180 be sure to hold half of half

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reshort

Trade closed: stop reached

for the reason. there is two possible reason for this loss:

1) Maybe I was chasing the price, the signal wasn't consistent enough

2)I don't respect the rule of the minimum R:R we fixed. (2 or 3)

third possible reason I was thinking but refuted it, is that the trade was just before Asian close and EU open so a lot of volatility (especially on EU open) but this reason were refuted like I told because I think when you are right the price move in your direction faster and when you are wrong price make the contrary of your plan faster. so the volatility is a double edged sword but for what I saw for the moment not so a disvantage when you take a trade

Trade active

Note

loss on GBPUSD : - 58

but take all the profit on oil to compensate and half on USDJPY (respectively 1:5.8 and 1:2) : +168, +58

AB : 2953 + 168 = 3121$

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reshort oil

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Long gbpusd

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Next week we will test to add a strategy to our panel (the aim for this is to know where you have the more consistent entry point and the most consistent exit point)
This strategy seem really powerfull in backtest.

Let me explain how to use it. First you have to configurate two EMA's (one on 10 and one on 20 and make it bigger to see the crossing point)

The principles is to use the same strategy as always to make our plan (and know the trend) but now we will readd when the price touche the ema's and rebound on it. It's just simple like that (and the best is to accordate it with pinbar/inside bar/engulfing bar), that's for the entry points to duplicate the winning rate and make more money.

Now for the exit point (and possible trend reversal), we just wait for price to close below both EMA's , then they have to cross and theprice have to pullback and confirm the temporal trend reversal. In this case or in a case of a gap in the contrary of our position, we can take all the profits floating. and try to change direction of our trade

That's simple like that. but this strategy isn't to determine long term trend, only for mid-term. I repeat I will use it only to add some position more (with more safety/security) and to exit all the profit when the trend seems to change.

The reason for me to implemente it , it's symply because I have problem to see where the trend could reverse. and there is time where the price reverse strongly and take a lot of the profit.

this method seems to work on all timeframe but for me the most profitable is 4H and daily

bullish case

bearish case

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loss on USDJPY: -58

and take half on USOIL : +225

AB : 3121 + 167 = 3288$

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Take the rest of profit on USOIL

AB : 3288 + 225 = 3513$

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for this week we adjust the risk per trade to 70$

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reshort USOIL

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Short gold

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short spx

short term view

mid term view

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take half on USOIL, USDCAD and SPX500USD (1:2 reached on all) : +70 x 3

AB : 3513 + 210 = 3723$

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Loss on Gold: -70
but we can take half of half on SPX to compensate the loss : +73

AB : 3723 + 3 = 3726$

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RESHORT SPX , there is a bearish candlestick on 1H

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price hit the sl to break even on SPX and it's now reversing.

take the rest of the profit of first trade (1:3 now)

AB : 2726 + 52 = 2778$

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Reshort with only 1% because it's a 15min signal (bearish engulfing on resistance)

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and reshort oil with 1% too (we largely made the perf of the day and the signal doesn't see so consistent) it's just a 0.618 pullback and price rejection

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try to reshort gold, rounding top on 0.618 and bearish harmonic

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loss on spx but we can compensate by taking all the profit on USOIL(1:1.4) : -35, +49

AB : 3778 + 14 = 3792$

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Loss on SPX and EURUSD : -70 x 2
compensate by taking half profit on gold : +70

AB : 3792 - 70 = 3722$

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short UJ (gap filled)

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SHORT USOIL (same reason as UJ)

jeanneymar011001

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jeanneymar011001