I am back to my SPX shorting zone.
SPX staid wihtin the violet channel. I guess we might see some efforts to move towards 4,250 where we might move towards 4,300.
I never buy just one position, so I will use the whole area between 4,200 and 4,300 to buy some shorts (I prefer 1H MACD cuts to buy a new short position with decently overbought 4H MACD ); if we break out of the violet channel, it could become increasingly insane, hence take care.
So I will be patient, it might take weeks...
SPX staid wihtin the violet channel. I guess we might see some efforts to move towards 4,250 where we might move towards 4,300.
I never buy just one position, so I will use the whole area between 4,200 and 4,300 to buy some shorts (I prefer 1H MACD cuts to buy a new short position with decently overbought 4H MACD ); if we break out of the violet channel, it could become increasingly insane, hence take care.
So I will be patient, it might take weeks...
Comment:
Nice push so far. The 4H is not so overbought right now, but 1H. So first shorts maybe on Monday/ Thuesday.
Comment:
As you can see the 4,120 became a new support. So I switched the dashed line into a normal orange line.
s3.tradingview.com/s...shots/m/m48TnZAH.png
s3.tradingview.com/s...shots/m/m48TnZAH.png
Trade active:
Started selling at 4.230
Comment:
I expect some intraday trading opportunities. Keep in mind, higher volatility means big moves in low timeframes. Hence I trade smaller positions intraday while I keep my initial positions.
Trade closed: target reached:
It was a nice 80 points drop so far. I am cashing in profits (we got some divergence in the US indices). So let's see what's going to happen at the US opening.