SPY S&P500 Trending Down - Short Entry Signal Today
The S&P500 bounced half-way back from the range-expansion down day it had on Friday and then backed away from that advance.
The setup for this trade is for a downtrend to be in effect, which it is. Next is to look for a rally to the mid-point of a range-expansion down day, which happened today.
The target is the low on Friday and the stop is the close on Thursday. Risk = Reward at 208.78 entry level.
Probability of a WIN is > 65%.
Cheers.
Tim
The setup for this trade is for a downtrend to be in effect, which it is. Next is to look for a rally to the mid-point of a range-expansion down day, which happened today.
The target is the low on Friday and the stop is the close on Thursday. Risk = Reward at 208.78 entry level.
Probability of a WIN is > 65%.
Cheers.
Tim
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