Premarket chart and alert review of Standard and Poor's 500 Index Futures - Trading Alerts
Detailed Charts For S & P 500 Index
The slides below show a proper shorting process of the Standard and Poor's 500 Index "/ES". As you can see, there are various groups of arrows with different colors. Each color is a different wave and as they all join forces, they are able to break down supports or resistances to continue in the trend direction of the alerts. As wave 4, 3, 2 and 1 join forces, the move happens rather quickly allowing to move the stop into breakeven plus easily. As price moves, the stop may be moved manually to protect profits (Depending on your trading style). As support develops, green flags appear to highlight the coming bounce. You may take profits then and close the position. You may call it a day and walk away. If not, allow the bounce to occur and then short again as price turns over again. It is all a matter of preference. Some may just walk away after placing the initial trade and hope for the best.