US500.PRO.OTMS trade ideas
SP500 Big short oportunityKeep the eyes open for next week.
US500
Weekly chart closed with an hanging man pattern at the end of a wedge pattern indicating a strong weakness of the price.
When looking at the H4 chart we see an Head and Shoulder pattern set up with the top of the right should formed with a potential double top.
Next steps:
- Wait for double top confirmation on the on the 15min / 30min chart to to scalp short the right should of the H&S formation
- If we see a H&S breakout we are going long short with huge returns.
SPX reacted today.In my previous SPX analysis, I was hoping to see it comes all the way back to 2641, but the 21 ema is doing a good job as a support here. If S&P goes up and close above the blue line region, then it will probably stop only at 3136, a sign of real strength here.
I was working with a scenario where the decisive point would be the orange line, but the 21 ema already did the job (so far), so we must work with we've got.
It’s more and more unlikely that the trend will reverse, and odds are SPX at 3136 again.
S&P 500 In Wave 4 Bullish for wave 5S&P 500 Alternative as wave 4 zig zag.Wave 5 target 3730 & 4260.
Same Game - Different DayWell, it happened, again!
"They" dropped the SPX down to 2761 = Support.
Then, "They" bounced it Up.
Are not we Wise to this, by now?
S&P-500 to resume its downtrend?Price touched 50% retracement level of the recent crash as well as the upper band of the ascending channel which is a bearish pattern. There is high probability that the price is going to reverse and resume its down trend after breaking the channel support.
N.B, Please note that this is a market study based on my knowledge and experience and not a trade suggestion for anyone to follow. I shall not be responsible for the outcome of a trade taken based on this view.
Riding The Wave of ManipulationThis Up day, gave me a chance to SELL 2 Crappy Stocks, that I had Bought.
Cash back into my Account.
Hoorah!
ObservationIt is Tough dealing with Criminals on a daily basis!
I don't know why I put myself thru this (?)
S&P 500 broken monthly trend line S&P 500 broken monthly trend line and broken the support zone. unless the S&P 500 closed above 2680, one should prepared for further correction...
The S&P 500 Starts To Bounce? Support & Resistance MappedThe S&P 500 (SPX) is now starting to bounce.
The sellers are exhausted according to the indicators and we are seeing a strong jump taking place today.
We have more details on the chart above.
We believe that prices can bounce before producing one final strong drop, but it all depends on how these support and resistance levels are handled, we remain open to all scenarios.
If prices move up and stay above the "resistance zone", the bulls take control, but if they move lower, the "support zone" can be tested.
If prices for the SPX manages to go below the "support zone", then we can expect more red and lower targets as shown in my previous long-term weekly analysis.
If support holds, we can expect prices to move back up.
You can find my previous weekly analysis here: www.tradingview.com
Thanks a lot for reading...
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Namaste.
