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Shorttrade

Great shorting entry point on SPX as it hits resistanceOn today's CPI report, inflation rose 0.5% in January, which was higher than expected (according to CNBC ), yet the market rallied. With this rally, the market is hitting a supply zone, which was the swing high for two of the most recent swings. In the shorter term, it has also been seen that the recent rally has been rejected twice at the bottom of this supply zone, which corresponds with the 0.236 Fibonacci level, showing strong resistance. Furthermore, SPX is hitting its 300-day SMA, adding further resistance. Back in 2008 when $SPX approached its 300-day SMA after the first part of the fall, a 50% drop in the S&P 500 followed over the next year. To trade this, I have entered a short position. Disclaimer: This is not financial advice, I have never worked professionally in finance in any capacity.
SP:SPXShort
by spiritualhealer117
3
WHATS NEXT FOR CARDANO?Hello traders! Today we are going to take a look at ADA's movement these past few days. As i mentioned in my last post: It is consolidating at the 0,3280 area and is looking to make a bottom, if it breaks down to 0,3200 I would look for a short position hitting the final demand zone at 0,3050. On the 4 hour and also the 1 hour time frame we can see that ADA has made a solid descending channel and is aiming downwards towards the last demand zone at the 0,30-0,3050 and potentially heading towards a more and more likely target at 0,27. If the last demand zone is met we can then begin fill our long positions with a potential 30-40% upside (longterm). All take profits is specified. On the smaller timeframes like the 15-5min i would start to look at a short position towards the last demand zone (swingtrade). Don't forget to fill up your long positions, this is a huge discount. Enjoyed the analysis? Like! Want to see more? Follow! Let me know what you guys think! Let me know in the comments! -The Stallion REMEMBER TO ALWAYS TRADE AT YOUR OWN RISK AND I AM NO FINANCIAL ADVISOR.
Long
by TheStallion_