Technician
Short

UPDATE: PULLING THE SHORT TRIGGER ON THE U.S. STOCKS MARKET

SP:SPX   S&P 500 Index
3148 28 59
My short trade from mid December is playing out well so far. However, am taking partial profits at 1821 support level .

1821 level is a major support over the medium to long term, so it is a good idea to book some profits, although i remain bearish on the stocks market.

A break below 1821 will probably confirm a move to my full target around 1608.

For more about it you might be interested in is risk here to stay, or Three economic indicators warn of a recession
Best Regards,
http://thefxchannel.com/
Technician
Comment: First target hit
https://thefxchannel.com
greats heads up. Appreciated. Although I see a Fibonacci based target of 1697-98. Time will tell!
Reply
nice work
Reply
Great Post,
When I saw a price volume divergence (OBV and 8EMA), I went short in Dec prior to the FED meeting,
I'm reluctant to close the position now, because I see more down to come.
I have added a stop loss at 200 level to lock in profit in case a bull run happens!
GL to you!
Reply
at last m8, you nailed it !. Now, we hope , you will be content, from busting our balls. :)
Reply
Congrats my friend! Fantastic work. Wise move to bank it now, most market internals are exhausted even on medium term. It will be choppy for the next two weeks as usually is after big moves, with a lot of short term up and downs coming. Plus the fact that R/R is not that great from now on. November's doji and 1,618 from the lows was golden opportunity.

all the best

P
+1 Reply
Thank you. True, lets wait for a better position now
Reply
Nicely done! ) Good reasons to short
Reply
Technician PRO morshedul.sazid
Thanks there, following your ideas.
+1 Reply
Thank you very much! :)
Reply
Thanks mates. Indeed, I was lucky
+1 Reply
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