W9-3 S&P500 BEARISH IDEA ( HARMONIC PATTERN AND DOUBLE TOP)
70
The price action has created a series of higher highs and higher lows and formed the harmonic reversal pattern AB=CD. The price action did not fall from the point of reversal zone (PZR), irrespective of the prevalence of bearish divergence on the Rsi indicator. The PA is traveling sideways and creating a double top coupled with bearish divergence. It is expected that the PA will fall, and if it breaks the neckline, it will follow the trade plan.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.