#SPX - Betting against the market once again
Updated
Few patterns are forming on the chart
1. we are trading inside a possible Broadening Wedge & about to hit R2 resistance on monthly charts hence looking to enter short position.
2. RSI Divergence -
look on the left, see what happened back in 2019
elections are coming up in November so i think market will top out around that time, i am gonna wait for MONTHLY CANDLE CLOSE BEFORE ENTERING or i will average in my entry but trying to get average around 3450 for the short position. currently monthly candle is super strong i want to see a price rejection & bearish candle stick pattern formed to give more confidence with my short position.
check the timeline for further updates.
there is also a possibility of H&S but i am not sure of it yet, i think we will probably turn this range into an ascending triangle instead if H&S pans out that will mean we are entering in to multiyear recession/Depression!!!!!!!
#notfinancialadvisor
#DoYourOwnResearch
1. we are trading inside a possible Broadening Wedge & about to hit R2 resistance on monthly charts hence looking to enter short position.
2. RSI Divergence -
look on the left, see what happened back in 2019
elections are coming up in November so i think market will top out around that time, i am gonna wait for MONTHLY CANDLE CLOSE BEFORE ENTERING or i will average in my entry but trying to get average around 3450 for the short position. currently monthly candle is super strong i want to see a price rejection & bearish candle stick pattern formed to give more confidence with my short position.
check the timeline for further updates.
there is also a possibility of H&S but i am not sure of it yet, i think we will probably turn this range into an ascending triangle instead if H&S pans out that will mean we are entering in to multiyear recession/Depression!!!!!!!
#notfinancialadvisor
#DoYourOwnResearch
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