SPX500 SHORT SETUP H1 BEFORE FED RATES
The price is currently in a bearish moment at the level of 4270, with a potential bounce zone around 4284, which corresponds to the 50% Fibonacci retracement level and a high-volume trading area. The objective of the short trade is to target 4220, where we have the 61% Fibonacci retracement level with high volumes and a demand zone for support before potentially dropping further to touch 4187. A descent is expected in anticipation of the Fed's interest rate hike next week.
Let me know what you think.
Happy trading to everyone.
Let me know what you think.
Happy trading to everyone.
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