SPX500 Short Trade Setup

Hello traders.

My long term forecast on SP500 is huge drop as monthly 4th wave. That's why I can't miss any chance of taking short trades. This is one of these aggresive entries. I have a pending order below previous bottom and witing for a correction at the same time. I hope it make a correction, so I can find better entry, otherwise my pending order will be triggered, if it goes down.

If you think this is a valid forecast and good trade setup, please hit the like button.
I appriciate that if you leave a comment and let me know what do you think about this idea.

Trade with care...

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ความคิดเห็น:

Stop loss at the break even.

ความคิดเห็น:

If it makes a running flat, correction might be over at 0.500 and 1.272 confluence. So, it can reverse from here and make a new high, or keep falling for expanding flat or just fall as next down impulse. I closed half of my trade.

ความคิดเห็น:

Take another short trade after the breakout.
It can be a risky trade. I will use 0.5% risk for this trade.
I already have a short from the top.

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It is too early to say but I think a running/expanding flat is in the making for more down side.

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It is still not clear. If it drops to 0.786 retracement, I will close my trade.

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I'm still expecting a drop either as C wave or next down impulse. Then I will start to move the stop-loss to positive levels.

ความคิดเห็น:

ความคิดเห็น:

Sorry, I didn't update for a while. I moved my stop-loss to 2690.

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I have placed another entry order. Its stop-loss is the same price as the active trade.

ความคิดเห็น:

Half of the first trade made almost 1% profit. Its other half made almost 1% profit as well and second trade loss 1%. So, almost breakeven.