tntsunrise
Short

SPX500 FINISH THE UP TREND in 1H

FX:SPX500   S&P 500 index of US listed shares
2824 22 90
SPX500             finish the up trend
2nd attempt can't close above 2170

therefore it is good to enter a short trade now.

SL above 2170
Target: 2105
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an exciting idea. ^_^
+1 Reply
just enter now
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Shorting at the moment
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Good trendline, good analysis
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Thanks Jack for your analysis.
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Thank
Please how you determine that take profit at 2105?

Yours
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I Think it is a bit pre-mature to short the SPX still has momentum to the upside which could take the index a bit higher I would not go Long, I am looking for a better Short entry
here is the Daily Chart , where the Index made a new high with higher impulse ,but ,the recent events in Turkey might favor the short side
https://www.tradingview.com/chart/HX5RYP81/
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Thanks and good Sell entry:)
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It is a wrong call.
+1 Reply
SPY , 120 mins TF
Has been very quiet , 1 Std Deviation ( volatility ) @ .34 With the VIX @ 12.40 normal value would be .70, volatility is mean regression , expect a drastic move in the following sessions
unfortunately volatility does not predict the direction of the move
Based on Momentum the move should be to the downside

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snapshot

People, it's a five wave-structure, it makes al art impulse BEFORE it go down ! And thats why you don,t use support/resistance. " It can't close above 2170 ".. Why is that… give my one good reseon ??
+2 Reply
To be fair TNT sunrise didn't have the benefit of knowing what was going to happen, as its clear in past 5 hours that its till bullish...and we can see this now...Im not touching it, it could go anywhere from here...
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ReneK Trendhopper
If you don't know what is going to happen, why put he a chart on tradingview ?
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trading is based on probability, charts are just ideas, nobody knows for sure, although TNT is very good at predicting oil and gold, not so good on S & P, look at his results....I find predicting indices is impossbile, as we never know when authorities are printing money , only city/prrofessional traders have this info, looks like a 5 wave now as you say, but you can't guarantee a short after wave 5, indices can stay at high numbers for months, probably best to go with trend on indices if you can find a pullback opportunity.
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ReneK Trendhopper
Trading is based on seeing structure and patterns, if you see that, then you trading. It works at all Charts. Why is someone good in gold or oil ?? You are a good trader, when you apply you're strategy to any chart, not alone for gold or oil. Elliot-wave is the best strategy to trade with, not support/resistance . Yes thats true; after wave 5, he make a big correction and after that he go for 1 wave up. The chart shows what he gonna do.
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Elliot wave only works when the waves are obvious and all traders can see them, Im not sure is an obvious 5 wave as you show, reason is wave 4 is sideways, not a correction, it could be a continuation of wave 3....
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Trendhopper Trendhopper
although I support your view price could go to 2200's because this would line up with monthly trendline upper channel
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ReneK Trendhopper
Yes it's possible, he makes a last impulse around 2200
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are you out ?
+1 Reply
If sp500 closes above 2176, must be out. No reason keep shorts, my guess.
+1 Reply
another stop it! :(
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