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S&P 500 Index
Short
Updated

structure trade with confirmation

631
snapshot

hey traders,

on spy the market has reached a very significant level of resistance.

for more than 10 days I am looking for selling opportunities there,
and now I think we finally have a potential confirmation pattern to sell the market.

first of all, the market has recently formed a double top pattern,
approaching this 2815 level.
Rsi shows a clear divergence.
snapshot

on 1h chart we have a nice head and shoulders pattern,
I will be waiting for a bearish violation of a neckline to sell the market.

for targets I look left at structure:
your initial target might be 2690
and the second target around 2640

good luck!


Note
attempt to break
Trade active
Clear breakout
VasilyTrader
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Double Top or BottomHead and ShouldersSupport and Resistance

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Double Top or BottomHead and ShouldersSupport and Resistance
VasilyTrader
✅Join My Telegram Channel: t.me/VasilyTrading

❗️YouTube Channel youtube.com/c/VasilyTrader

✅ Facebook: facebook.com/VasilyTrading/

⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Also on:

Related publications

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.