S&P 500 (SPX500USD) POTENTIAL SHORT DAY TRADE OPPORTUNITY
Hey everyone! Hope your week has been off to an amazing start! I just wanted to get on here and make another little different post than I usually do here on the S&P500 INDEX. I also am giving this trade call as more of a day trade or intra day swing opportunity so keep that in mind with the timeframe I am sharing for this opportunity! So let's dive in!
OK so when looking at the closures of last week in the markets I had seen a strong sell off happen on the 23rd of May...POWER IS THE #1 SIGN OF REVERSAL...SOOO with that in mind I had seen the power of the seller come in around 5,350 and due to the momentum it had caught my attention. Now keep in mind the context here is S&P is at all time highs...price failed to make new highs on the 23rd of May...and the strength and dominance of that seller coming down was pretty prevalent. Leading me to believe that at least the next move for this market would be a follow through to the downside!
ALSO you can see how there was nice hourly supply that was formed from that last week...as well as a very weak response from the buyer coming up into that level. What this shows me is that the buyer is not the stronger party here and that the sellers. Based on current data. Are the more dominant party. Which for us as traders, which our job is to just follow along the big boy, is good to see so that we can identify (through the momentum) of who to be taking a trade alongside with. So based on all of that and with some Fib confluence as well...I am looking for some day trading short opportunities here
Hope you guys found some value in this post! Please boost my post and like my page for more accurate analysis! Cheers!
OK so when looking at the closures of last week in the markets I had seen a strong sell off happen on the 23rd of May...POWER IS THE #1 SIGN OF REVERSAL...SOOO with that in mind I had seen the power of the seller come in around 5,350 and due to the momentum it had caught my attention. Now keep in mind the context here is S&P is at all time highs...price failed to make new highs on the 23rd of May...and the strength and dominance of that seller coming down was pretty prevalent. Leading me to believe that at least the next move for this market would be a follow through to the downside!
ALSO you can see how there was nice hourly supply that was formed from that last week...as well as a very weak response from the buyer coming up into that level. What this shows me is that the buyer is not the stronger party here and that the sellers. Based on current data. Are the more dominant party. Which for us as traders, which our job is to just follow along the big boy, is good to see so that we can identify (through the momentum) of who to be taking a trade alongside with. So based on all of that and with some Fib confluence as well...I am looking for some day trading short opportunities here
Hope you guys found some value in this post! Please boost my post and like my page for more accurate analysis! Cheers!
Uwaga
THIS POST IS MEANT TO SAY "SHORT" FOR THE OPPORTUNITYTransakcja zamknięta: osiągnięto wyznaczony cel
S&P500 hit take profit zone! Cheers!
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.