S&P is at the top of the megaphone : repost
its cleaner like this
there is three possible scenarios :
-first one it fall until it reach the major first support and rebound on it to retest the high of the megaphone (70% probability)
-second one it fall and break the major support (last ATH )and keep falling until reaching the down trendline of the megaphone (20% probability)
-third one it breaks up the megaphone and keep rising until reaching an undetermined level (10% probability)
make your bet. personally ill wait until it reach the major support and see the price reaction before taking the decision to short or to buy
and if it breaks up the megaphone ill buy
taking a short from here its not a dumb thing but still risky because the trend is up so personally i dont try it
there is three possible scenarios :
-first one it fall until it reach the major first support and rebound on it to retest the high of the megaphone (70% probability)
-second one it fall and break the major support (last ATH )and keep falling until reaching the down trendline of the megaphone (20% probability)
-third one it breaks up the megaphone and keep rising until reaching an undetermined level (10% probability)
make your bet. personally ill wait until it reach the major support and see the price reaction before taking the decision to short or to buy
and if it breaks up the megaphone ill buy
taking a short from here its not a dumb thing but still risky because the trend is up so personally i dont try it
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