skrotkalle
Short

SPX "BearFlag" break down , small HS inside BF >> 1795.... ?

FX:SPX500   S&P 500 index of US listed shares
237 5 4
Maybe we will have next move > 1900, and then it will break down > 1873 >> 1810 >>>1795

Please, give me some comments on this. My first chart here....... and I am an amateur from Norway.... :)
pesca1313 PRO
10 months ago
Hi, from Portugal. Just my ideas... It could be a break in trend, but I would proceed with care. Price has tested the 1810 level a few times before, and shoot rapidly up. More over, the 1880 has been a strong support level. I would like to see the price break those two lines of defense, retrace a little back to the 1810 level and then try to go short, if the trend confirms.
+1 Reply
pesca1313 PRO pesca1313
10 months ago
But i think, in the short run it could be a profitable trade. Let`s wait for the 1900 level.
+1 Reply
I agree this is a very likely scenario.. In the short run on sunday evening trade or early Monday it may go up first before coming back down. As RSI has been strengthening even though prices has been falling
+1 Reply
delete123
10 months ago
I think you are right, though it just broke down below the bb. I think there will be a lot of support at 1800, maybe it will bounce a bit before hitting below that level.
+1 Reply
skrotkalle
10 months ago
Thank you for your comments...... Now we have tested 1810, and it looks we maybe, going a bit higher, but one can never be sure. Maybe testing under 1800 too. We have not had the good flush yet, but anyway, follow the price-action-movement.......... Go with the flow........ :)
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