Lingrid

US500 FALL after false breakout

Short
CURRENCYCOM:US500   S&P 500
The price has been moving in a constant uptrend since August 2019. The only serious breakdown occurred in September, but in November the price broke through the resistance at 3528.1 and returned to the trend.

Moving in a trend, the price eventually dropped to the support line 3714.0. This is the strong line of August 2019. The price received a strong growth impulse from it, so it was even able to break through the resistance of 4030.9. I believe this is a false breakout. After which the price will return behind the line, fix at the point 4042.7 and fall to the support line 3888.1. This will be our goal.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Comments

Is this still a SHORT? It is crossing 4100 and touching the border of the drawn circle.
+1 Reply
Good analysis. I was patiently waiting for it to cross 4100. I think it still has a little bit more momentum to take it further, especially if it is following NAS to take out its ATH of 13900.
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As usual you are the best excellent worker..Keep it up..
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Good analysis I agree with you though my 4085 level is being tested now if it breaks 4100, 4140 max 4200 absolute max, overshoots are common as you already know during turning points

Keep an eye out soon for the VIX and S&P going up at the same time usually happens for a
Few days before the fall

It began doing that last week then diverged but
I think we will see the S&P do it’s last little pop on
Rising volatility before falling on one of the million
Catalysts that are jist waiting to be attached to said fall
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that's my thought, if 4085 breaks we may see 4120-4200 but that's it then the beginning of what may be the end of the markets due to the mass of assholes who thought Biden's old forgetful self was a good choice, may as well burn everything to the ground and start fresh
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interesting..
thanks
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Many thanks
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Lingrid festasc
@festasc, 😉
Reply
Love this thank you
Reply
Lingrid alexgrand86
@alexgrand86, you`re welcome)
Reply
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