SPX500 Short Trade Setup

14 Mar 2018

Hello traders.

My long term forecast on SP500 is huge drop as monthly 4th wave. That's why I can't miss any chance of taking short trades. This is one of these aggresive entries. I have a pending order below previous bottom and witing for a correction at the same time. I hope it make a correction, so I can find better entry, otherwise my pending order will be triggered, if it goes down.

If you think this is a valid forecast and good trade setup, please hit the like button.
I appriciate that if you leave a comment and let me know what do you think about this idea.

Trade with care...

14 Mar 2018

İşlem aktif

21 Mar 2018

Not

Stop loss at the break even.

22 Mar 2018

Not

If it makes a running flat, correction might be over at 0.500 and 1.272 confluence. So, it can reverse from here and make a new high, or keep falling for expanding flat or just fall as next down impulse. I closed half of my trade.

28 Mar 2018

Not

Take another short trade after the breakout.
It can be a risky trade. I will use 0.5% risk for this trade.
I already have a short from the top.

3 Nis 2018

Not

It is too early to say but I think a running/expanding flat is in the making for more down side.

11 Nis 2018

Not

It is still not clear. If it drops to 0.786 retracement, I will close my trade.

18 Nis 2018

Not

I'm still expecting a drop either as C wave or next down impulse. Then I will start to move the stop-loss to positive levels.

18 Nis 2018

Not

27 Nis 2018

Not

Sorry, I didn't update for a while. I moved my stop-loss to 2690.

1 May 2018

Not

I have placed another entry order. Its stop-loss is the same price as the active trade.

10 May 2018

Not

Half of the first trade made almost 1% profit. Its other half made almost 1% profit as well and second trade loss 1%. So, almost breakeven.