S&P 500 Short Opportunity - Cypher

FX:SPX500   S&P 500 Index
Looks like a potential cypher pattern has completed on the S&P             . I'm currently short with stops at 2025.

There are two ways to manage this trade:

A) Aggressive - Move stops to entry when price reaches 38.2% retrace of CD (Do not scale out) and take profits at or just above 61.8% CD - by tightening the stop you reduce the chance of the trade reaching max profit, however you have the best opportunity to get the best possible R:R ratio by going all in all out

B) Conservative - Scale out half of the position at 38.2% retrace of CD. Keep stops at 2025. Close the position at 61.8% of CD - by keeping your stop wide you give the trade more opportunity to reach the higher R:R target

- Fundamentals are bullish considering Friday's NFP (Against trade set up)
- Entry has formed in a previous S/R area (Supports trade set up)

Let me know your thoughts
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out