2ndSkiesForex
Short

Short Term Impulsive Selling Suggest LH Coming

FX:SPX500   S&P 500 index of US listed shares
235 11 3
After the FOMC spike, the index failed to make a new high, and has be sold ever since retracing all of the FOMC gains and more. Notice in the red box how the relief rallies were meek and sold aggressively, suggesting bears are happy to sell higher and are in control short term.

I'll look for a corrective rally towards 1712 to form an LH (lower high). If it does, then I'll look to sell here, targeting 1695 and 1680
sunny
3 years ago
I like this idea. Tuesdays are good days for equities usually so this may work out.
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pradafx sunny
3 years ago
Me too mate. I am sure this will work
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sunny
3 years ago
Thanks. Enjoyed playing 1697-1700 early this morning.
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2ndSkiesForex sunny
3 years ago
@Sunny - de nada mate. An easy scalp there. Now just needing a weak pullback
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sunny 2ndSkiesForex
3 years ago
This might be the pull back up? Might last all day?
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2ndSkiesForex sunny
3 years ago
Its definitely moving at a Tortuga pace
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sunny 2ndSkiesForex
3 years ago
That's the way I like it. Glad I stopped playing an hour ago. What will happen next?
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Ryan Tyler
3 years ago
Still we have the opportunity to long
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2ndSkiesForex Ryan Tyler
3 years ago
Agreed, I think a quick intraday long is available
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sunny 2ndSkiesForex
3 years ago
30 min chart has this in a descending channel. bulls might be finished this week but these trend lines are weak... do you have another opinion? thanks
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