jeanneymar011001
Short

SPX in a possible trend reversal

OANDA:SPX500USD   S&P 500 Index
Hi pros !

Price broke the ascending channel mean a possible
trend reversal here.

The possible scenario
is the price will aim
3220 before pullbacking to 3290
and then falling sharply to 3040 or even 2850

There is an insolent R:R ratio on the short
after pullback
could be between 1:20 and 1:50
Jan 27
Comment: should look like this
Jan 27
Comment:
Jan 28
Trade active:
Jan 28
Trade closed: stop reached: we will retry tomorrow or this night, don't force it
Jan 28
Comment: RETRY

Jan 29
Trade closed: stop reached: take the rest of profit on gold to compensate (1:2.4) = -70, +86

AB : 3722 + 16 = 3738$
Jan 29
Comment: take the rest of profit on USDCAD = +24

AB : 3738 + 24 = 3762$
Jan 29
Trade active:
Jan 29
Comment: Take half on spx profit (1:2.5 reached): +88

AB : 3762 + 88 = 3850$
Jan 30
Comment: take half of half because we reached support ( 1:6.1 reached) : +107

AB = 2850 + 107 = 2957$
Jan 30
Comment: 3957$ sorry

Comments

Hi Bro, Is this pattern still valid?
Reply
Thanks for that nice analysis !
Reply
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