Fxprotrader
Short

SPX500 Pending Head & Shoulders Pattern

FX:SPX500   S&P 500 Index
A bearish shark pattern is working pretty good till now and after a sharp drop from it's D ponit a correction is expected. If price pulls back for that correction it will probably complete a head and shoulders wave pattern which will most likely push price to the down once more.

So watch for a sell setup to form at the level of the left shoulder, with a second option is to wait for price to break the neckline of the pattern.

Keep your trading simple, follow your own plan! Like and comment if you agree!
Hi again, on this one too, I am thinking it is too late, I think I would be chasing the price. I do think that the TP for this one is 2045.0 so still some room to get some profits.
+1 Reply
Been riding this thing down from the top, what level do you see a reversal, are we going to form the right shoulder next?
thanks for sharing idea!
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vpip20 KenzoMorsa
700 )
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Fxprotrader KenzoMorsa
The H&S pattern is no more valid.. Till now it's dropping with an impulsive way.. Let it run in your favour and keep an eye in lower timeframes for a good reason to exit..
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Well done Fxpro!
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Fxprotrader SpartanTrader
Thank you spartan
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