SPX500 Weekly Game Plan

SPX500 Game Plan

As much as I hate opening a position against the trend, these are two levels that I will be observing. In an ideal scenario I want to open the short upon confirmation. What does this mean?

If price reaches one of the two levels - $4524 or $4586, I want a small retracement followed by a double top or lower low. I can then open a short position with a stop loss above the recent high.

For the first order that would be somewhere around $4547, and for the second order that would be around $4617.

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P.S. I've been inactive for the past month, so I do apologize to those following me. I am picking up the trades again and soon I will release my new core trading strategy, which relies on trend following and so far has been very promising on indices and commodities, which is what I mainly trade.