Take a very close look at the monthly timeframe
As we all know as professional traders... the BIGGER time frames always beat the smaller time frames knowing this; we can take a look at the most recent candle on spy which comes to show us a bearish engulfing candle which typically indicates a lower move down. here is an example of what the set up looks like https://cdn-amiji.nitrocdn.com/IEZIUgrNRbYQggDlmHBLkLYuABZyJyOL/assets/static/optimized/rev-b4327ab/wp-content/uploads/technical-analysis/BearishEngulfChartVZ.gif
On the shorter time frames we might see a bit of green but over all LONG positions will be short for the coming weeks
As we all know as professional traders... the BIGGER time frames always beat the smaller time frames knowing this; we can take a look at the most recent candle on spy which comes to show us a bearish engulfing candle which typically indicates a lower move down. here is an example of what the set up looks like https://cdn-amiji.nitrocdn.com/IEZIUgrNRbYQggDlmHBLkLYuABZyJyOL/assets/static/optimized/rev-b4327ab/wp-content/uploads/technical-analysis/BearishEngulfChartVZ.gif
On the shorter time frames we might see a bit of green but over all LONG positions will be short for the coming weeks
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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.
Disclaimer
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.