FX:SPX500 S&P 500 index of US listed shares
Would it break through the ceiling just like that, because of the positive payrolls? It went just right to the top and stopped. Last few candles with quite decreased volume and started to reverse. Would it not be a good time to enter short then? I see you did not see the price curl up at the top when posting it...
Yeah, i have been thinking that maybe it was a bit too hasty, when I analyzed charts for longer... But it was after the closure of markets, I did not realize they closed at 21:15 UK time and I took the positions like 10min before that or less. I will watch it closely on opening and few hours after how it behaves.Hopefully will close the positions before another rally up.
I think if you want to risk and can afford SL Just above 9811, as there is a critical level to confirm bullish move on daily and 4H TF. Then you could watch it closely on 1H TF as it is correcting in light upwards/lateral move there at the moment after the last move up. But if it were my trade, I would either get out now, either put a SL at 9663 and hopefully get out of the trade on retracement hopefully around 9510 and/or on first sign of finish of retracement get a long position with TP 9800, 9860, 9930, 10000 and 10200 even. That is my outlook. But moving SL after each pivot after retracements on 1H TF, taking profits for 3/4 of positions after the rallies and on TP points. On 4H TF and above the price is bearish still, but on 1H TF it has already made a double bottom. That is my analysis. And talking about my trade on SP500, I know I go against the trend there, but I expect it to reach 2110 at least before pivoting back and there I will decide what to do (well, that was my plan and the risks taken with that trade).