Did we get a right shoulder invalidation of the possible SP500 head and shoulders patterns?
It is quite early to suggest that. We need the right shoulder to prove itself and work as support to give me more conviction.
As long as we stay on top of the right shoulder ~4470 I am carefully bull. If we fall back under it I'm waiting for a test of the neckline ~4340. In this situation price probably would break it and tests the big support 4195 area.
As long as we stay on top of the ~4180 I am long term bull
If you trade use stop losses! 1st mistake novice traders do is that they don't use them and gets their ass burned!
@RuckusRick, Good question. My guess is that there was just less trading on Capitalcom on US500 pair. (High volumes can indicate close tops or bots). You can check my previous posts comment about this