Short
Is the S&P 500 finally EXHAUSTED? 🔥
Updated
Hello Traders,
The S&P has touched our resistance trend-line and it's been a long time since it has touched our support trend-line. So I think the S&P is due to retest the support trend-line at the very least.
Answer me this. You think it's more likely for the price to break through our resistance than to re-test our support? You ok to buy S&P at these prices?
There are trapped buyers from Friday's session as there was a significant gap down on the week Globex open so this indicates to me that there is intention to put selling pressure on S&P in the upcoming days.
This trade strategy is low risk with high reward potential of at least 400% of risk return.
Good Luck!
SL 4205
TP 3996
The S&P has touched our resistance trend-line and it's been a long time since it has touched our support trend-line. So I think the S&P is due to retest the support trend-line at the very least.
Answer me this. You think it's more likely for the price to break through our resistance than to re-test our support? You ok to buy S&P at these prices?
There are trapped buyers from Friday's session as there was a significant gap down on the week Globex open so this indicates to me that there is intention to put selling pressure on S&P in the upcoming days.
This trade strategy is low risk with high reward potential of at least 400% of risk return.
Good Luck!
SL 4205
TP 3996
Trade active
I am still short S&P and I have sold more lots at 4166. Unfortunately many people who was playing short on the day got trapped and hurt so I anticipate a big move down in the next session.Order cancelled
Last week invalidates this plan as the bulls held on strong to guard important levels. I'll be sticking with the plan again if price breaks below 4120. Otherwise If price breaks above 4200 my target will be around the 4300 - 4400 range which will be dangerously overextended to the upside.
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