Short
US500: Short-term Sell Opportunities
-Introduction-
US500 has retraced to retest the resistance level of $4100 after reaching the yearly low of $3860. Currently, the price has formed a three black crows bearish candlestick pattern, making a new short-term lower low from the resistance level. Therefore, we have entered our sell position to target the recent yearly low of $3860
US500 has retraced to retest the resistance level of $4100 after reaching the yearly low of $3860. Currently, the price has formed a three black crows bearish candlestick pattern, making a new short-term lower low from the resistance level. Therefore, we have entered our sell position to target the recent yearly low of $3860
Trade active
Sell Position Entered: $4020 Target: $3870
SL: $4110
1% risk
1:1.5 risk-to-reward ratio
Note
Reasons for sell entry: A pullback strategy from the previous support level (Trend-following); Gap unfilled at yearly low, three black crows bearish price action, and US market opened with a strong bearish momentum.
Note
Just reached 50% of the target. We now place SL at breakeven. This is a risk free trade.Trade closed: target reached
We have closed our sell positions at $3877.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.