Hello everyone:
I am seeing a potential sell opportunity on SPY.
The current price action had a double tops, price correctively formed a rising wedge structure towards that area.
We see a sharp drop on the lower time frame, and a potential Head and Shoulder pattern in the making.
I will look for continuation structure to develop here before an entry will be enter.
Look for price to break out of the structure to the recent lows.
Thank you
I am seeing a potential sell opportunity on SPY.
The current price action had a double tops, price correctively formed a rising wedge structure towards that area.
We see a sharp drop on the lower time frame, and a potential Head and Shoulder pattern in the making.
I will look for continuation structure to develop here before an entry will be enter.
Look for price to break out of the structure to the recent lows.
Thank you
Note
Price bounce back up, potentially creating a recent double tops, and small correction forming here. Still looking for the sell entry.Note
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Related publications
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.