Short Setup on SPX Futures by ThinkingAntsOk
Use this as a guide to develop your setup:
Main items we can see on the Daily Chart:
a)The price was not able to broke above the Highet trendline of the White ascending channel.
b)The price Broke the ascending dash-dot light blue channel.
c)Price Found Support on the Higher trendline of the Yellow channel (most significant structure of the chart).
d)Currently, the price is trying to look for new highs, if it fails we have set our Short trade below the Upper trendline of the yellow channel.
e)We will set our Stop above all-time highs.
f)Our Target will be on the support zone before the lower trendline of the yellow ascending channel.
g)IF THE PRICE MAKES A NEW ALL TIMES HIGH CANCEL THE TRADE.
h)Our Break Even will be on the spot specified on the chart.
Main items we can see on the Daily Chart:
a)The price was not able to broke above the Highet trendline of the White ascending channel.
b)The price Broke the ascending dash-dot light blue channel.
c)Price Found Support on the Higher trendline of the Yellow channel (most significant structure of the chart).
d)Currently, the price is trying to look for new highs, if it fails we have set our Short trade below the Upper trendline of the yellow channel.
e)We will set our Stop above all-time highs.
f)Our Target will be on the support zone before the lower trendline of the yellow ascending channel.
g)IF THE PRICE MAKES A NEW ALL TIMES HIGH CANCEL THE TRADE.
h)Our Break Even will be on the spot specified on the chart.