structure trade with confirmation

hey traders,

on spy the market has reached a very significant level of resistance.

for more than 10 days I am looking for selling opportunities there,
and now I think we finally have a potential confirmation pattern to sell the market.

first of all, the market has recently formed a double top pattern,
approaching this 2815 level.
Rsi shows a clear divergence.

on 1h chart we have a nice head and shoulders pattern,
I will be waiting for a bearish violation of a neckline to sell the market.

for targets I look left at structure:
your initial target might be 2690
and the second target around 2640

good luck!

Commentaire:

attempt to break

Transaction en cours:

Clear breakout