SP500 Short Opportunity by ThinkingAntsOk

Google+ Pinterest LinkedIn Tumblr

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!

Click here to go to original post. All rights reserved to the original post owner.

Easy and intuitive for beginners, and powerful enough for advanced chartists – TradingView has all charting tools you need to share and view trading ideas. Real-time data and browser-based charts let you do your research from anywhere, since there are no installations or complex setups.

Write A Comment