S&P 500 (CFD): Sell every technical rebound in short term?
...from a technical point of view and looking at hourly chart, the answer is "yes"!
Hello everybody!
If we look at the whole bullish movement started from 22 October 2022, it doesn't seem to me an impulsive rally, far from it! The developed swing seems to be something similar to a corrective structure (ABC Pattern as shown on chart), and if this analysis is correct,
SP500 should trigger an interesting bearish leg with targets around 3710/3650 area.
Today and tomorrow very important US data will be released and we must not forget that if the data will be good it is possible that the market reacts on the opposite side....
If we look in the long term, I am absolutely a bearish as well as shown in the chart below.
(Click & Play on Chart below)
Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖
Cheers!
N.B.: Updates will follow below
Hello everybody!
If we look at the whole bullish movement started from 22 October 2022, it doesn't seem to me an impulsive rally, far from it! The developed swing seems to be something similar to a corrective structure (ABC Pattern as shown on chart), and if this analysis is correct,
SP500 should trigger an interesting bearish leg with targets around 3710/3650 area.Today and tomorrow very important US data will be released and we must not forget that if the data will be good it is possible that the market reacts on the opposite side....
If we look in the long term, I am absolutely a bearish as well as shown in the chart below.
(Click & Play on Chart below)
Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖
Cheers!
N.B.: Updates will follow below
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Some technical levels.... ... I hope they can be useful... 💗ノート
30' chart...ノート
30' chartノート
it might be interesting to also follow 3968 as an extension, it would be the best level....ノート
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very fast target (H&S)ノート
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approach to important support area....ノート
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The support area seems to work correctly, but if it triggers a correction or a reversal, we will know this in a few hours because it will depend on "how" the swing will develop...ノート
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I'm not sure if I will keep posting updates about this setup, but the trade is safe, as I mentioned a few days ago, I moved stop loss to BE. Trade with care! 💗ノート
other considerations below
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The current environment is very serious, if you are not a gambler, be careful about going long in the markets... IMHO 💗ノート
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