Quant_

S&P 500 Short Setup

Short
OANDA:SPX500USD   S&P 500 Index
S&P 500 Short Setup

Entry: $3,864.4
TP & RR: $3,750.7 (2.22)
Stop Loss: $3,915.7

REASONS FOR THE TRADE

Not much to discuss here, aside from the fact that we are looking to open a short position at an established resistance level . This is one of those trades that it's just too obvious, so I believe a lot of traders will be stacking orders there. When/If our position gets filled, we will be monitoring it and if volume continues to increase or we pierce that level convincingly, we may close the trade prematurely and potentially open a long trade.
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