Possible drop in S&p500
When we look at the chart we can see that there was a wedge breakout on the 1H chart. I think that this will be a wedge fake out and that we will see real wedge breakout when it will retest the wedge. We can see that it closed very close to the wedge. We will have to see what it does when the market will open but i personally think that there is a good chance of another drop.
Please let me know in the comments what you think.
Disclaimer: This is just only for educational purpose. I am not telling you to Buy/Sell anything.
Please let me know in the comments what you think.
Disclaimer: This is just only for educational purpose. I am not telling you to Buy/Sell anything.
Note
As we now look at the chart we can see that it even went down more. It could be that this is more movement down from the fake out. I am still waiting for the retest of the wedge.Note
As we take a look at the chart now we can see that the trade is back at the wedge. Will be looking on how it is going to open on Monday and maybe go short on this one if the price is right
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.