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BillionsFund
Feb 16, 2020 12:23 PM

BREAKING : HANGING MAN on $SPY $SPX Short

S&P 500SP

Description

Friday ended with a hanging man on the highs.
Attention to the next few days. A 12% drop could begin until the last gap opened near the 2,618 Fibonacci area.
Attention to the area 3210-3205 which will be an important support.
The US economy remains strong, this could only be a technical descent to increase long positions.
The 12% drop is very deep, I don't know how many possibilities it has to happen but we cannot rule out anything.

Trade active

Look 2870. Is 0,5 Fibonacci level on monthly chart. Perfectly on the median of the bullish fork.

Trade closed: target reached

Ok. very good work.
Comments
rigoazul10
Good job man ...!!!
BillionsFund
Matrik888
I completely agree....a hanging man is to fool retail trades and can expect the market to go up and up and up
BillionsFund
@Matrik888, needs confirmation. if I do analysis on the value and the fundamentals, well, I don't see a single reason why it should go down. it's just a technical consideration. if confirmed, then we can set targets to the downside.
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