There are lots of engulfing patterns on the daily time frames for SPX 500. Those engulfing patterns serve as my support and resistance zones confirming the pair will continue in a bearish direction. By monitoring the smaller timeframes I will identify my best entry.
The fibs I drew on my chart also further confirm that price will continue further down. I do feel that the support and resistance levels is our strongest confluence.
The fibs I drew on my chart also further confirm that price will continue further down. I do feel that the support and resistance levels is our strongest confluence.