SP500 – SELL – 11th May 2020

SP500 – SELL – 11th May 2020 (Closed)

Good evening guys,

Tonight we are also looking at the SP500. Many of you have seen my analysis on tradingview which I posted last Friday in telegram.

There is a nice risk to reward ratio on this set up.

SP500 – Technicals

The 38% FIB retracement is providing resistance. There is a couple of targets the first one at 2786 and second 2645.

Trade setup: SELL Market Execution (current price 2923), stop loss set at 2990 and take profit 2786.

Stop loss: 67 pips

Take profit: 137 pips

Trade Setup
SELL - Market Execution

Entry
2923

Take Profit
2786

Stop Loss
2990