hey traders,
let me share with you my thoughts about s&p:
first of all, on 4h chart we see a weakening bullish momentum
formation of a rising wedge on 1h charts more strongly indicates bulls exhaustion
also, on 4h chart looking left we can find that the market is really close to very significant structure levels.
the range between these levels is called a potential reversal zone.
what we are doing now, as the market is entering a potential reversal zone, we are looking for a confirmation.
here it will be bearish violation of a rising wedge, however, some reversal patterns may also appear.
be patient and wait for additional signals!
good luck!
Note
some bullish continuationNote
entering a potential reversal zone
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
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.