Short
SPX
Given the rise in US Yields and USDJPY overnight, we can expect a Pullback for the
SPX
at the Open. If we get a push up to 4450 - 4455, then a 1:2 Risk to Reward trade is in play at this 200EMA level.
Hypothesis for the Short:
SPX
Currently in a Down Trend, hitting the previous Sell Signal's on the 1H SMTV Indicator which will act as Resistance level at 4440 Level, if to the
SPX
hits the 200EMA at 4450 - 4455 I will make a short entry then look for a strong break at the 4440 Level for confirmation of Trade direction, otherwise if a hold of price at 4440, go to breakeven on the Short Entry Price at 4450 - 4455.
Short Entry 4455
Stoploss 4480
Take Profit 4400
Also have a Buy on the
USDJPY
on the 1H from the SMTV indicator at the 145.400 Levels, this will act as a strong support and bearish for the
SPX
SPX
Given the rise in US Yields and USDJPY overnight, we can expect a Pullback for the
SPX
at the Open. If we get a push up to 4450 - 4455, then a 1:2 Risk to Reward trade is in play at this 200EMA level. Hypothesis for the Short:
SPX
Currently in a Down Trend, hitting the previous Sell Signal's on the 1H SMTV Indicator which will act as Resistance level at 4440 Level, if to the
SPX
hits the 200EMA at 4450 - 4455 I will make a short entry then look for a strong break at the 4440 Level for confirmation of Trade direction, otherwise if a hold of price at 4440, go to breakeven on the Short Entry Price at 4450 - 4455. Short Entry 4455
Stoploss 4480
Take Profit 4400
Also have a Buy on the
USDJPY
on the 1H from the SMTV indicator at the 145.400 Levels, this will act as a strong support and bearish for the
SPX