S&P Short idea ..Risk 31 pips. Target 1= 82 Pips, 2=108,3=126

Short Trade Set up Idea for the Following Week 7-25-22
ON the week chart if this Idea plays out the Candle will take out the previous week/current week of 7-18-22 forming a head and shoulders.
The shoulder is using the closing price of the Day July 19th 2022.

Stop Loss 3965.00
ENTRY= 3934.00
Target 1 = 3852.00 Pips 82
Target 2 = 3826.00 Pips 108
Target 3 = 3808.00 Pips 126

Trade risk 31 Pips

Comment:

price came up to stop loss at 9am, using 4hr confluence. I entered trade, and made my stop loss my first entry. entered at 3969.

Comment:

Looking for price to continue lower, break lows and retrace to july 19th close and enter again at orignal trade idea price at 3934