Welcome to 420 Investments.
Here we have the SPX500 on the 4 hour time frame currently at resistance and showing signs of weakness.
Currently at previous Highs, and looking for it swing back down to support.
On the Daily Time Frame, it is possible that a evening star may be forming.
Stop losses should be placed above the current 4 hour swing high @ $3992
We are looking to short to the 0.38% Fib @ $3907 with a risk reward ratio of 3 to 1.
The trend heading upwards, is yet to have a third touch.
Best of luck, and enjoy the gains.
Here we have the SPX500 on the 4 hour time frame currently at resistance and showing signs of weakness.
Currently at previous Highs, and looking for it swing back down to support.
On the Daily Time Frame, it is possible that a evening star may be forming.
Stop losses should be placed above the current 4 hour swing high @ $3992
We are looking to short to the 0.38% Fib @ $3907 with a risk reward ratio of 3 to 1.
The trend heading upwards, is yet to have a third touch.
Best of luck, and enjoy the gains.
Order cancelled:
4 hour morning star + breakout of flag formed under resistance
4 hour morning star + breakout of flag formed under resistance
420Fam