DLavrov
Short

Divergence and Entry Level

FX:SPX500   S&P 500 index of US listed shares
Price bounced from a resistance level. RSI formed bearish divergence and confirmed price reversal. MACD falls and gives a signal for a possible short trade. ADX also starts falling and it's a signal that strong up movement probably is over. We can think about short trades on the daily chart . Place a pending order below MA20 and stop above the resistance level. Profit target is MA50 and if price breaks it, the next target will be MA100.

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