Short Setup + Analysis on SPX Futures by ThinkingAntsOk
Use this as a guide to develop your own setup
-Currently, we can see a Wedge pattern (Weakness of the Bullish Movement)
-The Wedge pattern was formed on the upper trendline of the Major Ascending Channel without being able to break it (Weakness of the bullish movement)
-Now we saw a first Breakout of the Wedge pattern and right after that the formation of a flat pattern (you can appreciate better on a lower timeframe like 1H/30min)
-This type of formation on the Edge of the Wedge Pattern gives us the signal of Setting our Entry
-On MACD we can see a huge Bearish Divergence (Weakness of the bullish movement)
-We set out Sell stop-limit order Below the Flat Pattern Structure (2979.75)
-Our Stop is Above the Flat Pattern formation (3000.00)
-We will Break Even at 2950.00
-Out Take Profit will be on 2930.00
-REMEMBER: NEVER RISK more than 2% of your trading account, our recommendation is 1%
-Currently, we can see a Wedge pattern (Weakness of the Bullish Movement)
-The Wedge pattern was formed on the upper trendline of the Major Ascending Channel without being able to break it (Weakness of the bullish movement)
-Now we saw a first Breakout of the Wedge pattern and right after that the formation of a flat pattern (you can appreciate better on a lower timeframe like 1H/30min)
-This type of formation on the Edge of the Wedge Pattern gives us the signal of Setting our Entry
-On MACD we can see a huge Bearish Divergence (Weakness of the bullish movement)
-We set out Sell stop-limit order Below the Flat Pattern Structure (2979.75)
-Our Stop is Above the Flat Pattern formation (3000.00)
-We will Break Even at 2950.00
-Out Take Profit will be on 2930.00
-REMEMBER: NEVER RISK more than 2% of your trading account, our recommendation is 1%
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