I have previously wrote about the S&P500 and which level I anticipate it will reach and then fall from. The price is reaching this level and if you look at the chart, a bearish pinbar/gravestone doji (at the time of writing this) is forming perfectly on the weekly time frame in line with this level. Also look at the head and shoulders pattern forming. We all know what a head and shoulders pattern means and everything is lining up to signal that the S&P500 is about to head bearish.
We have the Head and Shoulders pattern forming, a bearish pin bar rejecting the resistance and also forming what appears to be the top of the right shoulder, MA and EMA crossing with the EMA about to be on the bottom which is faster to respond than the MA. Not to mention other factors beyond the charts all providing confluence that the S&P500 is due to fall.
Crypto is finding support and stabilising too... Ill leave that there and watch this unfold and plan to ride it all the way down to a 40-60% reduction and will watch the price at these levels, until it hits the 40% reduction mark, this trade can look after its self. I will update this when I open the trade. Best of luck and any comments or ideas are welcome and much appreciated.
We have the Head and Shoulders pattern forming, a bearish pin bar rejecting the resistance and also forming what appears to be the top of the right shoulder, MA and EMA crossing with the EMA about to be on the bottom which is faster to respond than the MA. Not to mention other factors beyond the charts all providing confluence that the S&P500 is due to fall.
Crypto is finding support and stabilising too... Ill leave that there and watch this unfold and plan to ride it all the way down to a 40-60% reduction and will watch the price at these levels, until it hits the 40% reduction mark, this trade can look after its self. I will update this when I open the trade. Best of luck and any comments or ideas are welcome and much appreciated.