S&P 500If you All remember............. I had given a figure of 4527 as a very Tough resistence to cross. I remember ParasuRam telling me that we had crossed it and sustaining .....That sustainence was damn short lived. Since the, we HAVENT crossed it. I have given you all the possible wave counts to wave " B" and then a Fall towards ' C" as I could best. CAUTION NOW
SP500 trade ideas
Whats next for S&P500 - a falling wedge breakout?Our NSE:NIFTY & NSE:BANKNIFTY is following the same chart pattern as SP:SPX
A falling wedge plus bearish descending channel with a strong horizontal support
SPX has just broken out from the falling wedge, will it breakout?
And if yes - some of that euphoria will spill onto Nifty50 as well.
SPX vs Nifty50 - currency USDNifty was leading SPX all the way till Sep 2022, after which SPX has taken over.
If US markets stay like this, the underperformance in Indian markets will create a spiraling effect.
More money will get taken out by FIIs
--
Both SPX and Nifty50 are plotted in USD currency. The depreciation in INR will be accounted automatically.
SPX Scalping Support and Resistance Zones for Today instrument: SPX
Timeframe: 15-minute chart
Support Zone: 4440--4434--4420
Resistance Zone: 4486--4494--4516
Trade Overview:
In this trade idea, we'll focus on scalping the SPX using the support and resistance zones identified on the 15-minute chart. Scalping involves making multiple quick trades within short time frames to capture small price movements.
Trade Plan:
1. Entry Strategy:
Buy (Long): If the price bounces off the lower boundary of the support zone (around 4440-4434) with a bullish candle, consider entering a long position.
Sell (Short): If the price drops from the upper boundary of the resistance zone (around 4486-4494) with a bearish candle, consider entering a short position.
2. Stop-Loss:
For long positions, set the stop-loss just below the support zone or the recent swing low.
For short positions, set the stop-loss just above the resistance zone or the recent swing high.
3. Take-Profit:
Take profits for long positions at the upper boundary of the resistance zone or a predefined target level, ensuring a favorable risk-to-reward ratio (e.g., 1:1 or better).
Take profits for short positions at the lower boundary of the support zone or a predefined target level, with a similar risk-to-reward ratio.
4. Risk Management:
Since scalping involves quick trades, limit your risk to a very small percentage of your trading capital (e.g., 0.5% or less).
Given the short timeframe, be prepared to exit the trade if it's not moving in your anticipated direction.
////////
Note: This trade idea is for educational purposes only and should not be considered financial advice. Scalping involves quick trades within a short time frame and can be risky. Always perform your own analysis and consider your risk tolerance before making trading decisions.
SP500 INDEX FORMING BEARISH SHARK SP500 index moved rapidly upwards now it need correction and same time we can observe proper double top and bearish shark is forming and RSI also over bought region which indicates next month we can expect some bleeding till November it may also continue if FED increase interest rates becoz of inflation.
#Bitcoin #nft #bnb #eth #btc #BSC #Binance #trading #altcoins #cryptocurrency #crypto