Have taken 4hr chart for this analysis.Is it right time to enter for a short at this level and why ?
My feedback for this is , Yes this is about to reverse however waiting for the short confirmation to come to enter is most prefereable.When trading with the plan is always more rewarding .
In the 4H time frame chart as per "longbuylongsell" indicator the current candles are in blue color that means the long bull run continues. First we need to get Blue to Black candle that will be the first sign for short entry.
This alone not sufficient , always be performed with supporting indicators like , , ,Moving Average , , ,Momentum to make our decision closer to accuracy.
In this case i would prefer all the strength to show to go for short. When and why we need to go for short.
the candle become blue to black (indicator for short)
Strengthmeters shows ( , , , SAR ) all/maximum signs short indication then once can go for short.
The most powerful indicators as , , , SAR become weak( coming down from oversold ) (signal cuts fast line down) falling down (DI- gains strength over DI+ ) PSAR above the candle are the indication of the weak trades.So the weak trade support price to drag further down.In this is case as well i feel the something happening . SPX500 likely to fall down.
When to why to Enter how to enter?
Key is to first predict the black candle and then to see the numbers 1 2 3 P- D- DnLikely to appear above the candle in a same candle or one candle before .This is the confirmation to go for short.
We can use price action as well to go for early entry . Sharing this as a info here . When all the above mentioned conditions are met ,the chart snapshot will be shared in the comment section which will give more clear view about trading with technicals.
In my next educational video i try to share some more key information for good trading.Thank you!