Back to our previous trade shor SPX500 from yellow zone and we won some profits. Now you should note that the price has tested 2085 level for three times. More interesting thing is now the price has formed a double head and retrace back to 0.786 level.
For educational purpose, the 2085 can be taken as a neckline with double head formed. The people who shorted from yellow zone before still can hold your trade and wait for more time. My understanding is the NFP data is terrible so we foresee a lot of money will come out of US stock market recently.
Comment
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Half position took profit around 2086, half has moved SL to entry which were hit by market today.
Comments
MichaelRudelich
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Topping patterns fail all the time. But another top could form and then the drop. I'm long the S&P and Russell 2000 since May 20, but the odds favor a significant move back down, since the S&P is at the top of a two year range. The rally up has been very strong (since the February low, really). There is no top yet. There is no bear momentum. These indices could do the low probability thing and continue up. We will see.
LeoYao
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Thanks. If u can check my latest idea,it's better. Actually both Long or short can earn money. Just because current is not suitable for Long and short can really make some profit also. And I believe the bubble will break soon.
Nawaz1
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thx leo
LeoYao
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No Problem, hope we all win money.
zhaokedahuaidan
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Thanks for your analysis.
LeoYao
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No problem. If you followed my previous trade to long SPX500 from 2036 then short from 2102, you will be more profitable.