What's next on #SPX500?
First of all: to be honest, before today we were pretty much sure it would reach 3000 Area.
Now, something is changed, obviously.
As the bullish trendline was broken on 2900 we turned our trades on a short view and we made a very good profit, as you can see on our free Telegram Channel but
once broken the important level in 2830, we...
We are watching this compression point currently under this horizontal Resistance level.
Paying attention to the upward support that we are approaching after breaking our first price average as the candle crosses over the black line.
We hold that as bearish movement.
Would like to see it crack and have a nice Retracement.
50% short. Playing roughly 3%...
Hey tradomaniacs,
welcome to another free trade-plan .
Important: This is meant to be a preparation for you. As always we will have to wait for a confirmation.
Market-Sell: 2939,00
Stop-Loss: 3026,00
Target 1: 2840,00
Target 2: 2729,50
Target 3: 2640,00
Stop-Loss: 87 pips
Risk: 1-2%
Risk-Reward: 3,45
LEAVE A LIKE AND A COMMENT - I...
Hi Traders,
In the coming weeks, SPX500 will be entering an elongated series of corrective structures before we can see next impulse rally. In the interim, I'm expecting price to push lower in an ABC structure. Look to join short positions when price confirms.
Regards
Wave Theorist
#SPX500 near to a very important zone.
2850 is a key level:
- Big Support/resistance in the past
- Fibonacci Level
- Possible point 5 of Elliot Wave.
We really expect a big bearish movement from 2850/2880 Area.
First TP the bullish trendline on area 2680, then will see..
The price is expected to test the trend line which is around 2700$, and if the price breaks the 2500$ mark !!! expect a major crash like 50-60% which do happen in 2008-2009
If the price will break 3215 we will change on a short view.
If that, 3157 will be a good level (Gann Angle) to test the short again.
On our view, something is changing, but it's better to wait for a confirmation to definitely "think short"
Fibonacci seems to be a Bible now. It gives us a lot of confirmation for 3172 level .
Only from that point, we'll go Long. In the meantime, we sell from resistances.
OANDA:SPX500USD OANDA:SPX500USD
Wait for strong sell to start to enter in the trade, the mad bull creating a fake delusion in market trapping lots of buyers on top
S&P500 4H Sell Signal
**Disclaimer**
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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Thank you...
