US500: Fading the Range – Intraday Short Play
US500ShortIntraday3h ago3 views
Trade Setup
Entry Price
6066.00
Stop Loss
6087.00
Take Profit
6013.00
Risk : Reward
1 : 2.52
RiskReward
Market Overview
US500 stuck in a sideways grind around 6061.81. Day range is tight, 6044.09 to 6079.53. Not seeing strong conviction either way right now, but the upper resistance at 6079.53 and 6100 is holding. Technicals suggest a potential fade from these levels given the current market uncertainty.
The Setup
Looking for a push higher into resistance before a turn. This isn't a "trend is your friend" setup in the purest sense, but a range play, fading the top. Clean setup for an intraday short. Levels are clear.
Taking this trade:
* Direction: Short
* Entry: 6066
* Stop Loss: 6087
* Take Profit: 6013
Targeting 6013, which is a key zone just above the 6000 support, while keeping the stop just above established resistance at 6079.53. Always manage that risk.
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