There is too much noise for the trends to continue etc.SO the potential has to be good and the trend should not have been over extended like right now.
Thus the rule below:
*If the market is at DAY MA 50 or 5h MA50 trend support , the upper frame MA 50 should not be more than 7 % thus the market should not be overextended.
Most of the stocks are around MA50 in the day chart but Weekly MA50 is so far away in the european stocks, the sell of accelerates easily breaking the trends easily.
For long trades US is better at the moment.
However in the US the market has already been extended for a long time so I am looking to short SP
Therefore the stop has to be far away from the entry point.
ENTRY STOP and the resistances and supports and targets have to be decided by big picture.
EUR USD is at the major resistance in the downtrend.
60 Min MACD is negative as well.
Open trades are below: