📉 Monitoring SPX500 for a potential short. Mixed tech signals and looming US jobless claims, durable goods data suggest caution. COT reports signal market stability. Considering short entry around 4550 with tight stops at 4570 and targets near 4500. Timing aligns with the release of jobless claims and durable goods orders at 13:30 UTC.
Rationale:
The mix of technical signals indicates caution, but the overbought conditions on the daily timeframe suggest a possible pullback.
News events might create volatility. Consider entering a short position around 4550 after the release of jobless claims and durable goods data, as these could potentially move the market.
Tight stops and targets account for potential volatility post-news release and aim for a moderate downside move.
Execution Time:
Best time to execute the strategy: After the release of U.S. jobless claims and durable goods orders at 13:30 UTC.
Remember, this is a general analysis, and market conditions can change rapidly. Always manage risk according to your trading plan and adjust your strategy based on market movements.
Rationale:
The mix of technical signals indicates caution, but the overbought conditions on the daily timeframe suggest a possible pullback.
News events might create volatility. Consider entering a short position around 4550 after the release of jobless claims and durable goods data, as these could potentially move the market.
Tight stops and targets account for potential volatility post-news release and aim for a moderate downside move.
Execution Time:
Best time to execute the strategy: After the release of U.S. jobless claims and durable goods orders at 13:30 UTC.
Remember, this is a general analysis, and market conditions can change rapidly. Always manage risk according to your trading plan and adjust your strategy based on market movements.
Trade active:
Consider selling if the price breaks below the H1 support level at 4555 and holds below, confirming a short-term bearish move.
Consider buying if the price retraces to a key support level around 4530-4540 (near H4 50% Fibonacci level) after the FOMC Minutes.
Consider buying if the price retraces to a key support level around 4530-4540 (near H4 50% Fibonacci level) after the FOMC Minutes.
Trade closed: target reached:
Closed it for +10 pips.
SPX500 showing mixed technical signals with overbought conditions on the daily RSI, while short-term EMA5 signals a sell. Keep an eye on key PMI releases and Central Bank speeches affecting market sentiment. Neutral to slightly bearish bias considering overbought RSI and upcoming economic events.
SPX500 showing mixed technical signals with overbought conditions on the daily RSI, while short-term EMA5 signals a sell. Keep an eye on key PMI releases and Central Bank speeches affecting market sentiment. Neutral to slightly bearish bias considering overbought RSI and upcoming economic events.
Trade active:
Considering the technical indicators and upcoming events, a short-term sell bias is recommended due to overbought signals.
Optimal entry for a short trade could be around 4560.0 - 4570.0.
Place a stop-loss above recent highs for risk management.
Keep an eye on the ECB, Japan, UK, and US news for market sentiment shifts and potential profit-taking opportunities.
Bias: Neutral to Sell
Best Time to Execute Strategy: Before ECB Monetary Policy Meeting Accounts - November 23rd, 12:30 UTC
Optimal entry for a short trade could be around 4560.0 - 4570.0.
Place a stop-loss above recent highs for risk management.
Keep an eye on the ECB, Japan, UK, and US news for market sentiment shifts and potential profit-taking opportunities.
Bias: Neutral to Sell
Best Time to Execute Strategy: Before ECB Monetary Policy Meeting Accounts - November 23rd, 12:30 UTC
Trade closed manually:
Technical Analysis:
Weekly (W): SPX500 remains in an upward trend, with the price hovering near the upper Bollinger Band. RSI at a healthy level suggests room for potential upside, but caution is advised due to the proximity to the upper band.
Daily (D): The daily timeframe indicates a strong bullish sentiment, reaching the upper Bollinger Band. RSI is high, signaling a potential overbought scenario.
4-Hour (H4): SPX500 shows consolidation near the upper Bollinger Band. RSI indicates a slightly overbought condition.
Hourly (H1) and 15-Minute (M15): Both timeframes signal a consolidation phase near the recent high, accompanied by an RSI suggesting a potential overbought situation.
Fundamental Analysis:
Upcoming News Impact:
Retail Sales data from New Zealand and Japan's inflation-related reports may affect market sentiment. Keep an eye on the announcements as they might influence risk sentiment.
COT Reports:
COT reports for SP500 and VIX show consistent patterns of non-commercial traders taking significant positions, reflecting confidence or speculation about future market movements.
Bias and Strategy:
Bias: Neutral to slightly bullish bias considering the technicals indicating an overbought scenario in shorter timeframes, while the weekly and daily charts display bullish sentiments.
Trading Strategy: Due to overbought signals in shorter timeframes and the proximity to upper Bollinger Bands, a cautious approach is recommended.
Buy: Consider a long entry if the price retraces to a support level, near the lower Bollinger Band in the hourly or 4-hour chart.
Sell: Short positions could be considered if there's a clear rejection from the upper Bollinger Band in shorter timeframes.
Weekly (W): SPX500 remains in an upward trend, with the price hovering near the upper Bollinger Band. RSI at a healthy level suggests room for potential upside, but caution is advised due to the proximity to the upper band.
Daily (D): The daily timeframe indicates a strong bullish sentiment, reaching the upper Bollinger Band. RSI is high, signaling a potential overbought scenario.
4-Hour (H4): SPX500 shows consolidation near the upper Bollinger Band. RSI indicates a slightly overbought condition.
Hourly (H1) and 15-Minute (M15): Both timeframes signal a consolidation phase near the recent high, accompanied by an RSI suggesting a potential overbought situation.
Fundamental Analysis:
Upcoming News Impact:
Retail Sales data from New Zealand and Japan's inflation-related reports may affect market sentiment. Keep an eye on the announcements as they might influence risk sentiment.
COT Reports:
COT reports for SP500 and VIX show consistent patterns of non-commercial traders taking significant positions, reflecting confidence or speculation about future market movements.
Bias and Strategy:
Bias: Neutral to slightly bullish bias considering the technicals indicating an overbought scenario in shorter timeframes, while the weekly and daily charts display bullish sentiments.
Trading Strategy: Due to overbought signals in shorter timeframes and the proximity to upper Bollinger Bands, a cautious approach is recommended.
Buy: Consider a long entry if the price retraces to a support level, near the lower Bollinger Band in the hourly or 4-hour chart.
Sell: Short positions could be considered if there's a clear rejection from the upper Bollinger Band in shorter timeframes.
Trade active:
Sell: Short positions could be considered if there's a clear rejection from the upper Bollinger Band in shorter timeframes.
Trade closed manually:
Neutral/Slight Sell Bias for #SPX500 due to overbought daily chart & mixed signals in shorter timeframes.
📉 Consider short entry if support breaks on H1/H4 after confirming reversal signals. ⏱️ Watch closely post-US data releases on 27th Nov 15:00 UTC.
📉 Consider short entry if support breaks on H1/H4 after confirming reversal signals. ⏱️ Watch closely post-US data releases on 27th Nov 15:00 UTC.