IvanIII
Short

SP500 1D SHORT - downtrend channel testing fib supports

FX:SPX500   S&P 500 index of US listed shares
97 1 2
test of support @2040 which is also 23% fib retracement then test of main support @2000 where the 38% fib retirement passes. if support @2000 does not hold the recent rally may fade
Comment: the reaction on the 23% fib level is now testing the resistance at 2079. if resistance holds the continuation pattern leads to 38% fib level at 2000
Comment: the trend downwards continues leading to test again support @2040


snapshot
Comment: the trade is confirmed

MAIN: SELL@2075 TARGET@2000 STOP LOSS@2085
ALTERNATIVE: BUY@2041 TARGET@2100 STOP LOSS@2031

snapshot
Comment: the trade is confirmed

MAIN: SELL@2075 TARGET@2000 STOP LOSS@2085

ALTERNATIVE: BUY@2014 TARGET@2100 STOP LOSS@2031

snapshot
Trade closed: stop reached: breakout of downtrend.

snapshot
the trend downwards continues leading to test again support @2040.
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