Possible Retracement

FX:SPX500   S&P 500 Index
175 1 3
The first leg seems to be finally broken and bouncing into the horizontal support line to create the famous head.

After finishing with the head, we see how it attempted to go up and it stopped right after hitting the last resistance line of the leg, creating the famous pull back.

When we see an incoming bearish leg, we have to see how the first downtrend is formed, and we can see on the green lines how they coincide symmetrically with the resistance line it just broke and the support of the head. Both green lines are cloned.

This is a typical story of a shift to downtrend wave, however, we still must be careful, since S&P500             has been a wild bull.
Also, the pullback trend line just broke, so it looks like we can have a short opportunity here:

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