Sid Thapar Blog | BEARS GETTING ACTIVE ON US S&P 500 INDEX | Talkmarkets
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I'm a qualified Financial Planner (CFP) accredited by FPSB India.

I have total work experience of 14 years in Financial Industry. Worked with Broking firms/ Mutual Funds/Banks brands like Bajaj Capital / ICICI Prudential / JM Financial / HDFC Bank Ltd. Along with Financial ... more

BEARS GETTING ACTIVE ON US S&P 500 INDEX

Date: Monday, March 19, 2018 7:51 PM EST

There is classic ABCD Pattern made on S&P 500 index. Rising wedge also broke today.

Classic ABCD: In this pattern, the BC is a retracement of 61.8% – 78.6% of AB, with CD being the extension leg of 127.2% to 161.8% (equal in price distance)

Attached is the image below for your reference.

CLASSIC ABCD PATTERN

The same pattern is made on S&P 500 index. 

Below are the Four Hourly chart for S&P 500 Index for your reference.

S&P 500 INDEX

One can go short below 2690 with SL 2810 for Target 2251. On Risk Reward, it's a 1:3.5 Trade.

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Comments

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Sid Thapar 2 years ago Author's comment

Hope my view is helping my followers to manage their positions :)

Please feel free to ask any query related to any trade setup, I'll be glad to help!

Cheers