ES1!, Trailing Stop Triggered For Scalp Short on the Daily

S&P 500 mini futures remain in a clear downtrend on higher time frames since February 24th according to our Directional Bias indicator.

Meanwhile, our Breakaway Scalper indicator has given a short signal since March 9th. Today, March 24th, the built in trailing stop loss for the Breakaway Scalper was triggered.

The market has rallied on hopes a coronavirus stimulus deal is near. Despite this, given the strong bearish trend, we will be looking for another short signal from our scalper to indicate more downside.