VasilyTrader

S&P500 Index (SPY) Bearish Forecast

Short
FX:SPX500   S&P 500 Index

hey guys,

short trade went active this night on spy .

reason:
the price reached a strong resistance on 4H,
broke a channel to the downside and formed a double top formation on 1H

I entered the market on retest with sell limit.
now bearish continuation is expected.

target level:
3094

Comments

Great short term analysis
Reply
VasilyTrader danta_master
@danta_master thank you 😊
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Nice analysis! We are slightly bearish for the short-term but bullish for longer term.
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VasilyTrader Phi-Deltalytics
@Phi-Deltalytics, thank you my friend!
Reply
Are you also bearish on spy?
Reply
@VasilyTrader, short term maybe. long term is bullish due to it's historical uptrend
Reply
VasilyTrader DemoDiaryFX_Trading
@DemoDiaryFX_Trading, thank you for comment!
Reply