SXP500SXP500 is currently at a strong resistance zone, I am expecting a strong bearish move. Remember to use pro risk management. Its sniper entry or nothing. Lets Download Success
Sp500short
S&P500 vs Nifty50 vs USDINR upto 31st Oct 2023This year, SPX is up 8.84% compared to Nifty50 up 4%. Nifty50 is plotted in USD currency so that the comparison makes more sense.
If you also look at the price actions, both the charts are showing good correlation. It will be interesting to find out how Nifty50 will close the 4.84% gap.
USDINR is up 0.59% year to date.
DXY if crosses 90.72, will move towards 92.14, SL 90.13BUY DXY above 90.72 for target of 92.14, SL 90.13
This will be bearish for equities and commodities
SP500 Big short oportunityKeep the eyes open for next week.
US500
Weekly chart closed with an hanging man pattern at the end of a wedge pattern indicating a strong weakness of the price.
When looking at the H4 chart we see an Head and Shoulder pattern set up with the top of the right should formed with a potential double top.
Next steps:
- Wait for double top confirmation on the on the 15min / 30min chart to to scalp short the right should of the H&S formation
- If we see a H&S breakout we are going long short with huge returns.
