• 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.

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