Hello traders.
Another short trade setup in SPX500. My short term expectation is a down move to 2490 because the structure between yellow lines looks like a correction and there is a strong Fib confluence at 2490. There is a chance for a much bigger drop but I think it will go up one more time first and create a running flat before it falls.
Another short trade setup in SPX500. My short term expectation is a down move to 2490 because the structure between yellow lines looks like a correction and there is a strong Fib confluence at 2490. There is a chance for a much bigger drop but I think it will go up one more time first and create a running flat before it falls.
Trade active:
And it doesn't look good. I hope it will come down one more time before it breaks the previous top.
Trade closed manually:
It broke the previous top and structure has changed. I closed my trade at breakeven.