SPX500 have been trading in a narrow range channel - so far it broke the base of the channel, expecting this market to break down which is more probable scenario to me at the moment, but if it doesn't then i am looking the top of the channel for a short trade.
As this market is bearish trending and momentum on all across higher time frames supporting the view, so keep watching this market for a big trade opportunity.
Hi Umar, I agree with you, currently it consolidate under your trendline, it's good. Here is another view of it.
UmarAbdurRehman
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@marttrader, i am looking the top to see if i can find a short trade setup developing.
marttrader
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@UmarAbdurRehman, The close could have been a good entry short for a short term trade! Usually, when it closes at the high of the day, after hours it pull-backs. For now I am in vacations so I can trade full time, so it looks like scalping more than swing and I don't keep any positions overnight. And now it's time to take a look at the asian session!