Hello everyone:
I am seeing a potential sell opportunity on SPY.
The current price action had a double tops, price correctively formed a rising wedge structure towards that area.
We see a sharp drop on the lower time frame, and a potential Head and Shoulder pattern in the making.
I will look for continuation structure to develop here before an entry will be enter.
Look for price to break out of the structure to the recent lows.
Thank you
I am seeing a potential sell opportunity on SPY.
The current price action had a double tops, price correctively formed a rising wedge structure towards that area.
We see a sharp drop on the lower time frame, and a potential Head and Shoulder pattern in the making.
I will look for continuation structure to develop here before an entry will be enter.
Look for price to break out of the structure to the recent lows.
Thank you
Comment:
Price bounce back up, potentially creating a recent double tops, and small correction forming here. Still looking for the sell entry.
Comment:
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