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VasilyTrader
Sep 22, 2019 6:42 AM

SPY SHORT: Double Top Short

S&P 500 index of US listed sharesFXCM

Description



though I have already shorted spy,
for now, there is another perfect selling setup for those who missed the trade.

on 4h chart the market has formed a classic double top pattern with lower high
and RSI divergence.
I trade this reversal pattern waiting for a bearish breakout of minor support beneath it.

T1 - 2945
T2 - 2900

Stop - 3028
Comments
VasilyTrader
Share your thoughts on SPY here
CptSafety
@VasilyPonomarev, what do you think about the conflicting variable of higher levels of positive momentum on the second top?
VasilyTrader
@CptSafety, I see the second top as the negative momentum because the market has set lower high!)
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