Trade Idea " ES-MINI SP500 " by ThinkingAntsOk
TRADE IDEA: E-Mini SP500
Price is on a major descending Trend since 1st of May when the Trade war started escalating between China and the US. we expect this situation to keep bringing uncertainty and making the price to fall. That’s the context of the trade
Technically we see the yellow bearish trendline as the main one of the descending movement. If the price reaches it will be a major zone to look for reversals, also we have the middle trendline of the Weekly ascending channel, That trendline has been working as a major support/resistance zone for a long time ago ( more than 200 days)
4H VISION:
Items you should wait before Trading:
-Reversal Candlestick patterns on the trendline
-Volume Decreasing when the price reaches the trendline.
-A clear ascending structure where you can draw a pattern, like a Wedge for example.
-All the final arrangements do it on a 15 or 10 minutes chart to confirm that the ascending movement towards the yellow trendline is weak.
-If the situation goes as expected consider risk management of 0.5% or less, the stronger concept of the trade will be the position of the Stop.
If all these items happen, then look for a BO of the ascending structure with your TP and SL close to the areas that are shown on the picture.
Use this as information to improve or discard any trade made by your own analysis, remember always take your decisions! ALWAYS!
Please note that the above perspective is our view on the market, We do not give signals and take no responsibility for your trades.
Price is on a major descending Trend since 1st of May when the Trade war started escalating between China and the US. we expect this situation to keep bringing uncertainty and making the price to fall. That’s the context of the trade
Technically we see the yellow bearish trendline as the main one of the descending movement. If the price reaches it will be a major zone to look for reversals, also we have the middle trendline of the Weekly ascending channel, That trendline has been working as a major support/resistance zone for a long time ago ( more than 200 days)
4H VISION:
Items you should wait before Trading:
-Reversal Candlestick patterns on the trendline
-Volume Decreasing when the price reaches the trendline.
-A clear ascending structure where you can draw a pattern, like a Wedge for example.
-All the final arrangements do it on a 15 or 10 minutes chart to confirm that the ascending movement towards the yellow trendline is weak.
-If the situation goes as expected consider risk management of 0.5% or less, the stronger concept of the trade will be the position of the Stop.
If all these items happen, then look for a BO of the ascending structure with your TP and SL close to the areas that are shown on the picture.
Use this as information to improve or discard any trade made by your own analysis, remember always take your decisions! ALWAYS!
Please note that the above perspective is our view on the market, We do not give signals and take no responsibility for your trades.
Trade closed: target reached:
If you followed this trade idea, we are closing our position on the current price! we can say "target reached"
