SP500 futures ( $SPX $SP500 1D) sell in May ?
But now something is up.
A head and shoulders pattern form on the 4h and It is on the verge of completion.
If true it may be the beginning of a correction.
Target (2636)
Stop loss if the price goes back above the right shoulder (2942).
We can see impulsive waves on the way down meaning that the primary move is downward.
Quite the simple trade.
As time goes by, I will keep you updated on the evolution of the asset price, so make sure to follow me on Tradingview
If you have any questions or requests, fell free to ask.
@Djio_
Disclaimer: This is not financial advice as I am not a financial adviser.
This is just my knowledge on what can be said and done from the chart.
Due to the volatile nature of the market, everything can change on a day to day basis.
Everyone is wise to manage their risk properly when considering any trading decision or activities.
PS: I cannot emphasize enough the risk associated with the activity of trading due to the imaginary nature of all paper contracts, the reason why I prefer mainly trading cryptocurrencies instead of more “traditional” assets. On the other end without total systemic collapse it can quickly become a good trade opportunity.
Trade closed: stop reached:
the market goes straight for where all the stop losses were hidden.
the market goes straight for where all the stop losses were hidden.
the market don't like to give you free money.