S&P entering a potential reversal zone

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!

Kommentar:

some bullish continuation

Kommentar:

entering a potential reversal zone