S&P prepare your PUTS

Aug 13, 2020

Traders,

Here we have SPXUSD index on the daily time frame.

Previously Posted an idea for SPX you can check it here below about Gaps which is not filled yet at that time of posting the idea :

Now we filled the last bullish gap, However we have many bearish scenarios now at this chop :

1- bearish H&S formation with a target 2999$
2- This small H&S will lead the price to form a bigger H&S with a lower low at 26** levels
3- First chart pattern will fill the 1st gap
4- 2nd chart pattern will fill the 2nd Gap
5- About Fib I chose the bottom of 2999 to major the ratio cause it will make sense at 200 fib correction
6- I marked 2928 cause it's the broken channel target

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Regards,
Mohsen