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Afternoon ladies and gentlemen 👋😃
Let's check an SPX today🧐.
On the chart, I showed the zone of possible price reversal (Right shoulder)
If we see there a stop of the fall and the beginning of the formation of a reversal, then potentially it will be a breakdown of the structure of the nascent bullish trend with targets of $4200 and $4500🚀
It's better to see an oversold RSI indicator.
But if we see a fall below the head level, it will mean confirmation of the bearish trend and the continuation of the fall after some pullback.
P.S
I do not adhere to a time frame in my analysis of the instrument, a reaction in the instrument may occur earlier or later. It is important to understand the price movement when reacting to the level, as well as the buyer and seller reactions. Well, and a few more secrets, this material is not a trading recommendation )))
Afternoon ladies and gentlemen 👋😃
Let's check an SPX today🧐.
On the chart, I showed the zone of possible price reversal (Right shoulder)
If we see there a stop of the fall and the beginning of the formation of a reversal, then potentially it will be a breakdown of the structure of the nascent bullish trend with targets of $4200 and $4500🚀
It's better to see an oversold RSI indicator.
But if we see a fall below the head level, it will mean confirmation of the bearish trend and the continuation of the fall after some pullback.
P.S
I do not adhere to a time frame in my analysis of the instrument, a reaction in the instrument may occur earlier or later. It is important to understand the price movement when reacting to the level, as well as the buyer and seller reactions. Well, and a few more secrets, this material is not a trading recommendation )))
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