captain_smollett
Short

SPX500. Possible bearish butterfly

FX:SPX500   S&P 500 index of US listed shares
2 months ago
We are heading to a possible correction on SPX500             which would mean more sideways action in the nearest term.

Will looks for longs at 2176 level. SL: 2185, TP: 2138
2 months ago
Comment: Getting close to entry point
2 months ago
Trade active: Going short 0.25 lots. SL: 1290. TP!: 2139
2 months ago
Comment: Short has worked well for now. Will move to breakeven on market open and check on where I could add some more...
2 months ago
Comment: First target reached. Short to breakeven
2 months ago
Comment: Keeping my short. Hope to see a target level and probably even lower
2 months ago
Comment: Updated chart in comments
htgroup1
2 months ago
Very detailed and clear analysis based on the harmonic. The 4H chart shows bearish RSI and Stochastic as well, so entering as well based on Monday's direction around 10 am EST using SQQQ.
+1 Reply
captain_smollett PRO htgroup1
2 months ago
Thank you, Sir! Appreciated your comment =) Have a good trading!
Reply
SharkbaitAl
2 months ago
Excellent analysis!
+1 Reply
captain_smollett PRO SharkbaitAl
2 months ago
Many thanks, appreciated! =)
Reply
htgroup1
2 months ago
Agreed ... bounced up today off the 23.6 retracement, but couldn't break above the 50 SMA on the 4H. Looks to me like it will retest the 50 tomorrow (2162) and then down to 2129 (200 SMA).
+1 Reply
captain_smollett PRO htgroup1
2 months ago
That would be a really good scenario indeed! =)
Reply
snapshot


I´m missing a leg E in this triangle. If I´m not wrong, the triangle is bullish and we have to move to the new all-time highs afterwards. Notice a possible butterfly pattern
Reply
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