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Hello:
Looking at SPX for sell opportunities.
We see most of the indices took a hit last week, and could have bearish continuation run in the up coming weeks.
I do like the price action and structure on SPX here. Price hit a double tops, and the top of the channel structure.
We then see a lower time frame bearish move down, now I like to see a continuation correction to form here to take it down to the bottom of the channel, and see what price will do at that area.
Thank you
Looking at SPX for sell opportunities.
We see most of the indices took a hit last week, and could have bearish continuation run in the up coming weeks.
I do like the price action and structure on SPX here. Price hit a double tops, and the top of the channel structure.
We then see a lower time frame bearish move down, now I like to see a continuation correction to form here to take it down to the bottom of the channel, and see what price will do at that area.
Thank you
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Comment:
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Comments
@lawrence14198, Cool, thank you for sharing. I am just waiting for more development on the price to confirm a short bias. Thank you
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Thanks for sharing!!! Newbie here,in your opinion,is this a fakeout or break out is confirmed? Thanks
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@CurtisTerry, Breaking out from some trend or level..etc doesnt mean much, for me personally, Iis only confirmed when I see a structure/pattern develop here to give me the confluence for a short. Thank you
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When you look at 1hour and 15 min we have a mini falling wedge let's see how this one develops around that area
We broke out of the structure correctively
We broke out of the structure correctively
Reply
@NICKFITNESSWORLD1, Certainly can be possible. For me, I am looking for confirmation, so I want to see the price develop a correction to confirm the bearish continuation momentum. thank you
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