-->> Resistance rejected price -->> pullback on weekly time-frame
-->>Butterfly pattern spotted on D1 -->> price testing resistance
-->>watch out for price reaction at trendline -->> a break above the cloud will invalidate this analysis
4H -->> structure: downtrend -->> below daily support -->> too much selling pressure
D1 -->> below daily support -->> trendline broken -->> continuous downwards
D1 -->> structure: downtrend -->> tendency: downwards -->> sell valid if it fails to break the cloud
D1 -->> pullback to support --->> a break below the cloud invalidate buying CAD
D1 -->> resistance spotted -->> pullback to cloud --->> expect huge downward movement if it fail to break the cloud
D1 -->> resistance spotted -->> pullback to cloud -->> expect huge downward movement if it fail to break the cloud
We'll be looking to short SPX500USD once the resistance is hit...
D1 -->> structure: downtrend -->> tendency: strong downward momentum -->> very weak chance to move up -->> sell to target
-->> structure: downtrend -->>trendline broken -->> tendency: wait for daily candle close at this zone
-->> below daily support -->> downwards tendency -->> more sell coming
D1 -->> structure: downtrend -->> trendline broken -->> sell to target