SPX - A pretty clear short here, imo
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I enjoy looking for trend reversals.
My setup/process:
-The main indicators I use are Directional Sentiment Line (DSL) by Steversteves (he's a very active tradingview member... check out his indicators and scripts) and the VIX Oscillator (also by Steversteves). 75 seems to be a great DSL setting for whatever reason.
-I check RSI and MFI sometimes, but usually ignore those.
-I like the 1 through 4 hour time frames for swing trading.
-Pull a regression trend from the last swing low to the the 2nd or 3rd 'lower high' following the most recent swing high.
-I look for PA to fall out of the regression trend.
-DSL must turn red and preferably give me a 'SHORT' signal (in this case... 'LONG' if I'm longing).
-I like to see the VIX Oscillator cross the Ticker line and Ticker to go below 0.00.
We have all that, so to me, this is a short, using a stop loss, of course.
Additionally, today's economic news could have caused some euphoria, but it didn't, which further supports my short bias here.
Check out those indicators and Steversteves ideas (they're great), and let me know what you think in the comments below. I always enjoy a good discussion.
Trade safe, y'all.
My setup/process:
-The main indicators I use are Directional Sentiment Line (DSL) by Steversteves (he's a very active tradingview member... check out his indicators and scripts) and the VIX Oscillator (also by Steversteves). 75 seems to be a great DSL setting for whatever reason.
-I check RSI and MFI sometimes, but usually ignore those.
-I like the 1 through 4 hour time frames for swing trading.
-Pull a regression trend from the last swing low to the the 2nd or 3rd 'lower high' following the most recent swing high.
-I look for PA to fall out of the regression trend.
-DSL must turn red and preferably give me a 'SHORT' signal (in this case... 'LONG' if I'm longing).
-I like to see the VIX Oscillator cross the Ticker line and Ticker to go below 0.00.
We have all that, so to me, this is a short, using a stop loss, of course.
Additionally, today's economic news could have caused some euphoria, but it didn't, which further supports my short bias here.
Check out those indicators and Steversteves ideas (they're great), and let me know what you think in the comments below. I always enjoy a good discussion.
Trade safe, y'all.
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Oh, and we lost the $4,000 psychological level, so there's that, too.
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