US500, S&P, SPX, S&P500, SPX500

Bearish feeling overall - however looking at the last couple if indicator calls, this should go Bullish to test the trendline (towards the first target) then reverse, a breakout of wedge and fall towards target two. However, nothing stopping this dropping from here and ignoring a retest.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.

Note

Supporting the downtrend - 618 bounce, lower high and momentum curve to the downside looking at the peaks.

Note

now starting to look for short entries on smaller timeframes. It has pushed out of the wedge passed Target one. Playing around the 618 level shown above. Starting to slow down - so it could be a potential false break North.

Note

waiting for the drop back into structure

Mayfair_Ventures

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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.

Mayfair_Ventures

Discord Server for education and advanced techniques: discord.gg/5t3w47raHe

Masterclass Webinar: mayfairtradingevents.com

Prop firm partners (FTMO)
shorturl.at/hBEQ4

Also on: