PerpetualLearner
Short

SPX getting ready for a pullback

FX:SPX500   S&P 500 index of US listed shares
121 2 2
RSI divergence , MACD crossover and my custom indicator points that we should see a pullback from here...
These is one reason not to enter the tread however ... no sign of weakness in price action yet and price action still looks like a bull flag ...
I opened a short position at 2175 with stop at 2180.6

TP1 : 2167.5

TP2 : 2160             .6
Trade closed manually: Closed the trade at 2172 as I see a W pattern evolving which means we will see a upturn .. I may open another short position after the completion of the W pattern..
Comment: Finally price action reached my reached ... but took much longer than I originally expected.... The nature of the indicator based on which I predicted the trade means the down swing could be deep...
I do not see any reason to short yet...... The FED is still on the buy side :)
+1 Reply
why do you think FED on buy side? Should have acted on your point yesterday...


I think this time we should see a pullback...
Reply
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