Indice S&P 500Short
[SPX] Diamonds Are For Bears
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Just noticed this gem...
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Diamond exactly on top of 1Y Peak Trend is pretty scary hahaNote
Seems about right...Note
It's also kinda a 4D H&S.Note
Bullish breakout? Bearish breakdown? Hold for confirm....Note
False breakout to breakdown?Note
false breakdown to real breakout!Sitting right back on the growth trend there. It seems strong enough but it's right on the edge. It'd be more bearish if it had fallen short of that fractal.
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Look at that beautiful diamond retest and reversal fractal straight up into yellow and through for the expected breakout.The breakdown below blue was a clear downward continuation signal before the powerful up reversal into close.
Let's zoom into the 2M microcosm here...
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Algos man...Note
It's like a cheat sheet for the trading day haha.Note
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Still hangin on this line...Note
Broke under blue dotted, look for yellow break or bounce next...Note
It broke but recovered and began a bounce, lets see how it reacts around the blue dotted again...Note
Rejected off blue dotted slightly here, didn't reach yellow dotted...Note
Rejected off yellow dotted and bounced off the new blue dotted and then broke through yellow...
Data analyst with a passion for best fit lines B)
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