simonecabras
Short

SPX500 hit a top WALL, short position opened.

FX:SPX500   S&P 500 index of US listed shares
The SPX500             seems to have hit a wall on hte top side at around 2097 after multiple touch but really unable to punch through the roof.
I have opened a short position when I saw that bearish engulkfing candle ( I dont trade candle formation but sometime it helps confirming a trade)
My stop loss goes above the previous resistance level and my target is at the previous support. SImple!
Trade closed: target reached: Just reached my target at 2053.6 with a profit of +315 pips
I could have left the trade running but I feel that generally it is best to start a trade with a definite SL and TP, it helps with being clearminded when you take decision about a trade rather then waiting to be involved with money and then take decisions then.
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