KVE
Short

S&P500: Same structure as DOW, breakout?

FX:SPX500   S&P 500 index of US listed shares
279 2 6
Expanding wedge might have broken to the downside. Possible short opportunity on the re-test of the broken trendline . Still early stages...

Possible setup on chart, just an example, SL above fomer swing high. I'm not taking this one since SL is too wide for my account and I am looking for some more confirmation....

For a setup with less risk wait for breakout of possible correction below the trendline . Look at lower TF's for this, will yeald much better R/R also!

In case the whole up move was a leading diagonal (5-3-5-3-5 structure) we could be looking at a nice downtrend to the retracement levels such as 38.2% (1995) - 50% (1959) - 61.8% (1923). Again: look to lower TF's for setups, confirmation and targets.

Switching to lower TF's now...
wait and see is my territory.....I smile..
Reply
KVE Rob Wallace Williams
Several options still, also here:
S&P500: Bearish breakout trade + alternate option...


No guarantees, the trader that waits for confirmation might not always get the best entry but will get the higher probability trades..., I trade both depending on the setup, it's a balance...
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
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 Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out