DLavrov

S&P 500 Index: Trend Reversal Signal

SPCFD:SPX   S&P 500 Index

The price broke the local uptrend line and it gives a trend reversal signal.
MACD histogram supports a further downside movement. RSI confirmed the price reversal. DMI does not show that the buyers are in control of the market. What does it mean?

These signals tell us about a possible downside movement with the targets at previous swing lows like 2700.00, 2500.00, and 2200.00 levels.

If you have the opportunity to open short trades in such a market, you will probably have good selling opportunities in the daily and lower timeframes. Just don't forget about the proper risk management, where you should not risk more than 1-2% of your capital.



P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!

Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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Comments

You don't need TA to know, that this is big bull trap and USA market will be devastated for years ahead.
+3 Reply
DLavrov SatoshiBTCQueen
@SatoshiBTCQueen, if you know nothing about TA, you should forget about profitable trading. Even if you are good in FA.
+1 Reply
@DLavrov I presume you know a lot about TA, and that's why you put red arrow down, but the market chooses to go up and got you rekt. There's only one profitable type of trade – buy and hold. Daily/weekly/monthly trading will always get you rekt because there's no such thing as TA. The market moves because of the news and mood of the crowd. You gues can sometimes be good, but the majority of the time – wrong. Stop looking at the stars – buy dips & hold
+2 Reply
YoYoG SatoshiBTCQueen
@SatoshiBTCQueen, 100%. TA is just guessing game with identifying the patterns, nobody can predict the future. Sometimes you can be right but that doesn't mean its because you are a future teller, its just that your prediction is correct.
Reply
Thank you for your posts. I always read your posts even the ones I'm probably not going to participate in! You always present a balanced approach for both possibilities of up or down with guidelines.
+2 Reply
DLavrov gary13
@gary13, thank you very much for your feedback! I'm very grateful!
Reply
Game of charts. I'm looking at all the crystal balls. lol
+1 Reply
proven wrong, for now
Reply
I basically agree with the assessment. Good man, keep it up.
Reply
Nice post, that trend line makes betting on a continued uptrend look scary, but this is what we got
Reply
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