SPX500 Double Top Fakeout, Short Signal!
Hy traders!
The S&P500 seems to try hard to make a comeback and honestly speaking I am not surprised, because this market is still bearish and we are probably nearing the end of correction wave B on the daily timeframe. However, there is still some room left to the upside at around the 2940USD level, so we should wait patiently until we have enough evidence that price really wants to reverse and breaking the structure, please check my screenshot for more info!
This double Top fake out could be some confirmation that price could finally reverse though, but to be safe, lets better wait for some more confirmation!
Good luck!
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DISCLAIMER (read it please): Never ever consider a trade without an education and always use a STOP LOSS to protect your account at all costs! Never ever use a mental STOP LOSS! You should also have a strict money management system in place, which allows you to trade with only a 1% Risk for each trade you take! If you are a beginner, you should trade with only 10USD Risk maximum and continue until you have gained the skills and proved yourself to be profitable over a longer period of time!!!
The S&P500 seems to try hard to make a comeback and honestly speaking I am not surprised, because this market is still bearish and we are probably nearing the end of correction wave B on the daily timeframe. However, there is still some room left to the upside at around the 2940USD level, so we should wait patiently until we have enough evidence that price really wants to reverse and breaking the structure, please check my screenshot for more info!
This double Top fake out could be some confirmation that price could finally reverse though, but to be safe, lets better wait for some more confirmation!
Good luck!
—————————————————————————————————————————————————————————————————————————————————————————————————
If you get out some value from my technical analysis and want to motivate me to share more ideas in the future, you can consider to support me by simply use my Donation/Affiliate section. All of the suggested exchanges I use by myself. So if you want to support me, feel free to use any of the links below! THANKS :)
Donations and Affiliate Links with Bonuses:
🙏 Crypto donations: bit.ly/2xQHDsv
🔥 PHEMEX up to 72USD BONUS: bit.ly/3bCVTDO
🔥 BINANCE 5% friends commission: bit.ly/354dpyi
🐦 Follow me on Twitter: twitter.com/twinorita
DISCLAIMER (read it please): Never ever consider a trade without an education and always use a STOP LOSS to protect your account at all costs! Never ever use a mental STOP LOSS! You should also have a strict money management system in place, which allows you to trade with only a 1% Risk for each trade you take! If you are a beginner, you should trade with only 10USD Risk maximum and continue until you have gained the skills and proved yourself to be profitable over a longer period of time!!!
Trade active:
Price broke out to the upside. Lets see price reaction at the 2885USD level.
I expect strong resistance! (no entry yet)
I expect strong resistance! (no entry yet)
