SP500 Short Opportunity by ThinkingAntsOk
The Main reasons to think that a bearish movement is about to star are the next ones:
A) Same situation than the bearish movement in October 2018
observe how the price made exactly the same formation that is doing now, we can use it as a guide to develop our setup on this current scenario.
B)The current Technical situation on the 4hs Chart:
-The price is facing a Resistance Zone
-Volume decreasing ( Weakness of the bullish movement)
-On the resistance zone, we can see a Pin bar on that area (reversal pattern)
-On the 15minutes chart, we can see divergence on the last movement that is making.
Based on this, we expect a bearish movement to start at any moment, if that happens we will be looking for short opportunities on the first Corrective structure out from the ascending trendline.
We will cancel this idea if the price keeps rising above the current Resistance zone.
Updates coming soon!
A) Same situation than the bearish movement in October 2018
observe how the price made exactly the same formation that is doing now, we can use it as a guide to develop our setup on this current scenario.
B)The current Technical situation on the 4hs Chart:
-The price is facing a Resistance Zone
-Volume decreasing ( Weakness of the bullish movement)
-On the resistance zone, we can see a Pin bar on that area (reversal pattern)
-On the 15minutes chart, we can see divergence on the last movement that is making.
Based on this, we expect a bearish movement to start at any moment, if that happens we will be looking for short opportunities on the first Corrective structure out from the ascending trendline.
We will cancel this idea if the price keeps rising above the current Resistance zone.
Updates coming soon!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.