The SPX is showing 4 variables that suggest the price will drop.
In our trading strategy, when an asset that is showing 4 variables in the same direction, we take the trade. As always the SL is one that as of right now makes sense, we will update if something changes.
The 4 edges (Variables) that suggest downside:
1. Confirmation of old channel as resistance.
2. Confirmation of 2021 high as resistance after price failed to return above it.
3. Bearish divergence on the MacD.
4. A bearish dark cloud cover/ piercing line candlestick formation (Confirmed with a negative close today).
Not to mention the asset retraced 61.8% to its recent high from low putting it in the golden zone.
We can never say an asset WILL go in a specific direction. We just look for scenarios where, based on researched methods, an asset has a higher probability of going in a direction. When multiple edges line up, we take the trade. This is one of those cases.
In our trading strategy, when an asset that is showing 4 variables in the same direction, we take the trade. As always the SL is one that as of right now makes sense, we will update if something changes.
The 4 edges (Variables) that suggest downside:
1. Confirmation of old channel as resistance.
2. Confirmation of 2021 high as resistance after price failed to return above it.
3. Bearish divergence on the MacD.
4. A bearish dark cloud cover/ piercing line candlestick formation (Confirmed with a negative close today).
Not to mention the asset retraced 61.8% to its recent high from low putting it in the golden zone.
We can never say an asset WILL go in a specific direction. We just look for scenarios where, based on researched methods, an asset has a higher probability of going in a direction. When multiple edges line up, we take the trade. This is one of those cases.
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Looking great so far!
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Continuing fine.
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To clarify this, the SPX never retraced as much as this one, my position is still more than intact and the SL was never close to being reached. Check other SPX charts for reference, this one did something weird.
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Nearly at first TP!!!
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First TP HIT! Again check the other SPX charts for reference as this one bugged out on the spike up.
KILLED IT - 33% of the position taken
KILLED IT - 33% of the position taken
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We hit our second TP yesterday before the end of day move up. Today we head closer to our 3rd TP.
As of right now the position has taken in an average 72% PROFIT. MASSIVE.
(This is because we use 20x leverage on all indices positions)
As of right now the position has taken in an average 72% PROFIT. MASSIVE.
(This is because we use 20x leverage on all indices positions)
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We closed our short as shown by the last update. Overall trade netted an average profit higher than 90%
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THIRD AND FINAL TP SMASHED FOR ANYONE THAT STAYED IN.
