SPX500 Head&Shoulder situation on the 1h, Short Setup!

28 Apr 2020

Hy traders!

The S&P500 is in a Head&Shoulder pattern situation on the 1h timeframe, currently price forming a right shoulder, which is tradable already.
I suggest to wait for neckline to break for a safer but also later entry. Price nearly touched the weekly EMA 50 today with quite a strong rejection (Head),
so I think we are ready to go down.

Good luck!

28 Apr 2020

Nota

If you get out some value from my technical analysis and want to motivate me to share more ideas in the future, you can consider to support me by simply use my Donation/Affiliate section. All of the suggested exchanges I use by myself. So if you want to support me, feel free to use any of the links below! THANKS :)


Donations and Affiliate Links with Bonuses:




🙏 Crypto donations: bit.ly/2xQHDsv

🔥 PHEMEX up to 72USD BONUS: bit.ly/3bCVTDO

🔥 BINANCE 5% friends commission: bit.ly/354dpyi
🐦 Follow me on Twitter: twitter.com/twinorita






DISCLAIMER (read it please):
Never ever consider a trade without an education and always use a STOP LOSS to protect your account at all costs! Never ever use a mental STOP LOSS! You should also have a strict money management system in place, which allows you to trade with only a 1% Risk for each trade you take! If you are a beginner, you should trade with only 10USD Risk maximum and continue until you have gained the skills and proved yourself to be profitable over a longer period of time!!!

28 Apr 2020

Nota

Don't get sucked into the trade and wait for the neckline aligning with the daily Pivot and the 1h 50EMA to clearly break.

29 Apr 2020

Nota

The H&S didn't work out but there was also no trigger to take a trade.
Price on the way to test the weekly 50, I will post a new update soon.