SPX - still inside downtrend channel - wait to buy-in
Hi All,
Not sure how many of you would like to see TA on SPX, but I thought it might be beneficial to some of you.
If you would like me to keep updating SPX, please PM me as sometimes I get too focused on Cryptos and completely forgot about SPX. Just like 30 hours ago, when SPX hit right on the top of the downtrend channel (circled in yellow), my alarm did not get activated and has missed the chance to buy-in. That was a 2.7% winning trade with x1 leverage :(
Now, I am just waiting for SPX to hit either the top or the bottom of the downtrend channel and to go short or long accordingly.
Just like Bitcoin, SPX is in a downtrend channel. Hence, shorting will be a safer and better risk/reward ratio option to trade.
Don't forget to press "Like", TA :)
Taiwan Bear
******************************************************************************************
Please note this post is provided for informational purpose only. It is not a financial advice to buy/sell.
Some tips for you:
- Set up an entry/exit strategy for every trade, with the ideal risk/reward ratio (2+)
- Understand that every trade carries a risk, and don’t expect you can make profits from every trade
Not sure how many of you would like to see TA on SPX, but I thought it might be beneficial to some of you.
If you would like me to keep updating SPX, please PM me as sometimes I get too focused on Cryptos and completely forgot about SPX. Just like 30 hours ago, when SPX hit right on the top of the downtrend channel (circled in yellow), my alarm did not get activated and has missed the chance to buy-in. That was a 2.7% winning trade with x1 leverage :(
Now, I am just waiting for SPX to hit either the top or the bottom of the downtrend channel and to go short or long accordingly.
Just like Bitcoin, SPX is in a downtrend channel. Hence, shorting will be a safer and better risk/reward ratio option to trade.
Don't forget to press "Like", TA :)
Taiwan Bear
******************************************************************************************
Please note this post is provided for informational purpose only. It is not a financial advice to buy/sell.
Some tips for you:
- Set up an entry/exit strategy for every trade, with the ideal risk/reward ratio (2+)
- Understand that every trade carries a risk, and don’t expect you can make profits from every trade
Bình luận:
If you think this call was outstanding, please give a "Like" :)
Bình luận:
SPX has been performing quite unexpectedly in the last few candles. It went above the trend line and found the trend line as support. However, the 0.618 retrace @ $2661 is still holding strong as resistance.
The price action is quite unclear at the moment. Below is the possible scenario that SPX could play out.
The price action is quite unclear at the moment. Below is the possible scenario that SPX could play out.
Bình luận:
Short opportunity - wait for breakout of ascending triangle
Recommended TP level:
0.786, 0.886 & 1.272 retrace