FX:SPX500   S&P 500 index of US listed shares
332 7 4
it is a very pivotal area here.

3 scenarios:
1) down straight.
2) up into 2124 and collapse
3) vertical up to 2160

The trade short can be tempted with tight stop 2115 or with slightly larger stop to allow for a fake breakout. that is a question of money management/size etc..

I went short at 2108 last week, stop 2115. I would monitor and adjust if close to stop.
There is a chance it falls straight tomorrow.

Note: in the last few weeks, many weeks started strong oin monday and were weak the rest of the week.

Risk reward exceptional if works.

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YaKa
SPX - Always
YaKa PRO about SPX500 1 2 years ago
Martzee
2 years ago
I also have a feeling that it will fall straight tomorrow. We are somewhat close to high and all highs were sold and this doesn't look any different. I give it 80% chance that tomorrow we will see a red day if not a straight panic selling again.
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YaKa PRO Martzee
2 years ago
Yes you are right. Only issue i have with that is that it became a bit obvious that it does not pass here so the game plan is very clear too: the rational is to place a stop at 2115. I fear the market may go and take those close stops away and that is why i will probably push it higher to let the market climb and fall but it wont be comfortable. Although i reckon that even if up it would not go past 2170 by end of may.
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YaKa PRO Martzee
2 years ago
Sometimes the game plan is clean. let's see here. tx for support:)
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YaKa PRO Martzee
2 years ago
The other thing too (that I mentioned in other posts).
The sell in May and go away would be far too easy if the market were to reach 2160 end of may... Even the most risk averse trader would come and short.
+1 Reply
YaKa PRO Martzee
2 years ago
here there is some risk bearing for shorts, and the bullish picture is still intact if you look at the chart in a very candid way... so the reward can be great on shorts.
+1 Reply
Thanks for your post, i'm using the same strategy with you, the difference is i'm attempting to short on Nasdaq. The stop lose area is on 5050. Hopefully the scenario is exactly the one you described, good luck, bro!
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YaKa PRO haibo.zhang.75098
2 years ago
exact same thing: 3% up max if it wants to go that way... risk of bull trap.. SAME.
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