Ideal entry point for short position on SPX
On the daily chart, we just broke the uptrend line that was supporting the rally.
On the 2h chart, we're just under the the weekly pivot + MA 50 + previous breakout level which make this level an ideal candidate for taking a short position.
Please wait for the shorter term uptrend line to be broken before entering position.
If we break above the $2870 level, this scenario will be invalidated and we might come to test the backside of the daily uptrend around the $2900s.
On the 2h chart, we're just under the the weekly pivot + MA 50 + previous breakout level which make this level an ideal candidate for taking a short position.
Please wait for the shorter term uptrend line to be broken before entering position.
If we break above the $2870 level, this scenario will be invalidated and we might come to test the backside of the daily uptrend around the $2900s.
Order cancelled:
Never had the chance to enter this trade since we broke above the $2870 level.
