SPX500/DXY showing signs of down movement

FX:SPX500   S&P 500 Index
158 0 4
Looks like the SPX500             is also showing a play to the downside.

-RSI bearish divergence

-Price ceiling at 2126.9

-Break out of trendline to downside, but has been riding it up. You can tell this is the most likely the ceiling because volatility is increasing indicating bears and bulls are in play here. The ride up was pretty nonvolatile as it was all bulls.

-With top established, we can say that this is the end of the 3rd wave. Looking for 4th downwave.
Comment: This pair gave us a little scare and pushed higher to make higher highs, however I took a look at the price action on the lower time frame, and it looks to be have completed a 5 wave pattern. It seems interesting to me because the completion of the 5th wave was located at a point that breached a strong resistance. Perhaps this is a fakeout on the higher timeframes, or it's just opening up the doors for higher prices in the future. Either way, the short still seems to be in play. Missed my stop by just a few pips.

Comment: bearish divergence. stop still not triggered...

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out