FxWirePro: sell s&p500 with short-term 1:3 risk: reward ratio
Source: FxWire Pro - Commentary / 16 Aug 2018 11:02:48 America/New_York
The U.S. benchmark is currently on its ninth consecutive yearly bull-run. The index is up more than 6 percent so far this year. However, we believe that a pocket has been created thanks to the ongoing geopolitical turmoil, dollar liquidity shortage amid higher U.S. rates, and President Trump’s war on the trade deficit, where short-term traders are likely to benefit going against the trend in the short-term.
As the risk aversion rises, we would recommend selling the SPX500 (CFD of S&P500) at the current rate of 2839 with a target of 2740 and the stop loss around 2875 area.© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.