Turnaround in S&P500? Long

S&P 500 index of US listed sharesFXCM

Description

⋅ Aug 22, 2015 5:56 PM

Now at lower parallel of uptrending daily pitchfork.

Also at lower quartile of downtrending fork.

Stop loss calculated using 9month ATR, target at median line for 3:3 risk-reward.

Comments

IvanLabrie

⋅ Aug 22, 2015 10:45 PM

Great, you can go with a tighter stop I think. But that should be safe.

tom.bloomfield

⋅ Aug 24, 2015 4:45 PM

Not my best idea, but it was worth a punt, right?! :)

IvanLabrie

⋅ Aug 24, 2015 6:16 PM

Ha!
Tell me about it.
I went short today,luckily had an nzdjpy and nzdusd short going since last night.
Let's sell the retrace now.

tom.bloomfield

⋅ Aug 25, 2015 12:04 PM

Good work! While on the topic, here's the monthly chart which called support with pin-point precision!

IvanLabrie

⋅ Aug 25, 2015 12:07 PM

Nice!
I think it'll retrace a bit and you can short towards the median line in no time.