Hello traders:
Here on S & P 500, we can see price is at the top of the overall higher time frame structure.
This consolidation has been going on for quite sometimes, and many often when price hits the highs, we often see reversal of bearish price action.
Now as we can see on the lower time frame, there is bearish reversal development within the HTF structure, and a strong bearish impulse down.
Now, to confirm further downside, wait for continuation correction to form and complete, before looking for entry down
Thank you
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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.