Ascending Wedge SPX .. In Danger of Breaking Triangle Support
S+P 500 Weekly Chart shows an "Ascending Wedge Triangle ( Shown Here)
............a potentially very bearish pattern.
Earlier in the week,an upside breakout of the wedge "failed" at 3102.63
The resolution of this pattern suggests the potential for a "thin air decline,
if the ascending triangle support line is breached, and closed below, currently at 3075.
This is the pattern that the market will "see" for the rest of the week.
Make sure you " see" it too,
and as a trader,be prepared to act,with size, when the moment strikes !
SPX Last 3091.84
THE_UNWIND
11/13/19
MOUNTAINS OF NEW YORK
............a potentially very bearish pattern.
Earlier in the week,an upside breakout of the wedge "failed" at 3102.63
The resolution of this pattern suggests the potential for a "thin air decline,
if the ascending triangle support line is breached, and closed below, currently at 3075.
This is the pattern that the market will "see" for the rest of the week.
Make sure you " see" it too,
and as a trader,be prepared to act,with size, when the moment strikes !
SPX Last 3091.84
THE_UNWIND
11/13/19
MOUNTAINS OF NEW YORK
For the record, the above is not trading advise of any kind,
Use discretion,
and your own judgement at all times when entering into the market,
Substantial risk is always present, as well as substantial return.
Thank you,
The Unwind
Mountains Of New York