Fxprotrader
Short

SPX500 Pending Head & Shoulders Pattern

FX:SPX500   S&P 500 index of US listed shares
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!
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SpartanTrader
5 months ago
Well done Fxpro!
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Fxprotrader PRO SpartanTrader
5 months ago
Thank you spartan
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KenzoMorsa
5 months ago
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
5 months ago
700 )
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Fxprotrader PRO KenzoMorsa
5 months ago
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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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
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