Short

SPX500 Head&Shoulder situation on the 1h, Short Setup!

Updated

Hy traders!

The S&P500 is in a Head&Shoulder pattern situation on the 1h timeframe, currently price forming a right shoulder, which is tradable already.
I suggest to wait for neckline to break for a safer but also later entry. Price nearly touched the weekly EMA 50 today with quite a strong rejection (Head),
so I think we are ready to go down.

Good luck!

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Note

Don't get sucked into the trade and wait for the neckline aligning with the daily Pivot and the 1h 50EMA to clearly break.

Note

The H&S didn't work out but there was also no trigger to take a trade.
Price on the way to test the weekly 50, I will post a new update soon.

twinorita

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