S&P500 3 Possible Scenarios
Scenario #1 - Trend continuation: Price continues it's downtrend after it bounces off the major falling trendline, creating LL and LH.
Scenario #2 - Trend continuation: Price continues it's downtrend, creating LL and LH. (Unlikely to happen)
Scenario #3 - Trend reversal: Price breaks major falling trendline, reaching the Fib Retracement 68% line, bounce off of it, price bounces off the major uptrend line, reversing the downtrend, creating HH and HL.
Let me know what you think!
Scenario #2 - Trend continuation: Price continues it's downtrend, creating LL and LH. (Unlikely to happen)
Scenario #3 - Trend reversal: Price breaks major falling trendline, reaching the Fib Retracement 68% line, bounce off of it, price bounces off the major uptrend line, reversing the downtrend, creating HH and HL.
Let me know what you think!
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