S&P500 New Strategy Pt.2 - Short setup!

18 ago 2023

On the S&P 500, I've identified a break of a Swing Low at the level of 4378.80 on the H4 timeframe. This allowed me to spot a supply zone on H4 and subsequently on H1, where the price could reverse. In fact, I've marked this area in gray and there I'll await a retracement, which I'll assess on M15 and H1 to decide whether to enter a short position or not. In case of entry, I would place my stop loss above the previous swing high and the target at the market's minimum reached before returning to the entry zone. Let me know what you think. Greetings from Nicola, the CEO of Forex48 Trading Academy.