Get started
captain_smollett

SPX500. Shorting the divergence

Short
S&P 500 Index (FX:SPX500)  
captain_smollett Updated   
FX:SPX500   S&P 500 Index
S&P 500 (SPX500) Equity
11
5
spx500 equity
I believe it is time fro SPX500 to correct after a huge bounce. In my opinion we are living a Wave 1 in a bigger 3 in a bigger 5. So, bulls no need to worry: this is only a small step back before a huge advance.

My TP1 would be 2100 and TP2 at 2070. SL: 2210
Trade active:
Shorted 2204 as all divergences are in place now: Daily, 4H and 1H, it also hit a resistance line, drawn through previous historical maximums.

SL: 2224, TP1: 2100, TP2: 2070
Trade closed manually:
Clsoed short: 4H divergence is now Bullish!!
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.