forker

SPX - Similarity...uncertainty...now what?

SP:SPX   The S&P 500 Index
The 2011 pattern looks very similar to the one we have now.
Even the priceaction from the Bars look nearly the same to me.

Facts for Long
- similar pattern as in 2011
- support at the L-MLH is pointing North.
- no real LT             low is broken!
- so far a wide distance from the open to the actual (potential) close

Facts for Short
- the frequency shift (red slidings) on the top, warn about the temporarily potential Max. High.
- if price is reaching the CL             and U-MLH (Convergence), ther's a high probability that it is a classic Test/Rtest of the "zoomed" Centerline, and that price is heading south, to the next line - the L-MLH (Lower Medianline Parallel)
- if price would continue north, it had to eat through the upper resistance block

So, really no cristal clear statement.
How could we trade? How about income trades with options, where wo don't even have to know where the market is going?
Take credit from below the market AND from above the market?

Whereever this market will go, it's time to play it save...but also to capitalize on the opportunities...

P!
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How to find high probability trades and trade my method.

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