S&P500: Same structure as DOW, breakout?

FX:SPX500   S&P 500 Index
279 2 6
Expanding wedge might have broken to the downside. Possible short opportunity on the re-test of the broken trendline . Still early stages...

Possible setup on chart, just an example, SL above fomer swing high. I'm not taking this one since SL is too wide for my account and I am looking for some more confirmation....

For a setup with less risk wait for breakout of possible correction below the trendline . Look at lower TF's for this, will yeald much better R/R also!

In case the whole up move was a leading diagonal (5-3-5-3-5 structure) we could be looking at a nice downtrend to the retracement levels such as 38.2% (1995) - 50% (1959) - 61.8% (1923). Again: look to lower TF's for setups, confirmation and targets.

Switching to lower TF's now...
wait and see is my territory.....I smile..
KVE Rob Wallace Williams
Several options still, also here:

No guarantees, the trader that waits for confirmation might not always get the best entry but will get the higher probability trades..., I trade both depending on the setup, it's a balance...
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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