dionvuletich
Long

SPX500 looking for short term buy

FX:SPX500   S&P 500 index of US listed shares
76 0 3
Setup possibly on 4hr but daily chart shows gap and 38% retracement which was fridays low

Looking for short term long
Comment: Original thoughts were to look for a Bollinger band reversal (close outside 2sttd dev - bounce - then close inside bollinger band for snap back mean reversion trade), nice entry would have been a small green candle on 4hr within the 4hr bollinger band

However 4hr chart has just closed and is not looking bullish, still waiting for a small green candle to form with low risk, if it doesn't happen then will be sitting on hands and doing nothing as I am position short anyway

No point forcing a trade that is not there - don't trade what you think - trade what you see.. and at the moment I see no hint of a rally
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