Short
S&P500 - Pt.2 Another leg down
In our first post about this index we explained our general view. Here is the wolfe wave and the micro count. We will observe and update about the price action to assess probabilities of the scenarios outlined in the first post. We are either in a wave 3 and we will go for a lower low, or in a wave c of B of an ABC to the upside. In both case we believe that we will visit 3600 area, which is the target of our short position.
Note
Again 0.5%?
Added a short position at 3910. Now our average entry is 3925. Stop loss 3952 risk 1% of equity.
Note
Stop loss on average entry @3925. We go risk freeTrade active
Restriked 2 short position 3931.3. Stop loss 3952 risk 0.8% of equity.
Trade active
volume cluster, extending stop loss to 3957.1 for a risk of 1% of Equity
Trade closed: stop reached
loss 1%
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.