Sp500 Enters Bearish Zone
What’s up Traders!
Sp500 is getting pretty close to a channel roof where inside bars have been printed last Friday. If we look back 4 trading sessions ago there was a bearish pin bar but there was no volume and also we weren't really in a bearish zone yet IMO.
We also have some wicks to the upside suggesting supply is coming to the market. Just remember that smart money can NOT get rid off their positions quickly due to the size their trades. Therefore they always have to sell in smaller tranches.
I am now looking here to see some bearish price action around 3100$- bearish fakey + high volume would definitely tease me to short it.
Good luck!
Sp500 is getting pretty close to a channel roof where inside bars have been printed last Friday. If we look back 4 trading sessions ago there was a bearish pin bar but there was no volume and also we weren't really in a bearish zone yet IMO.
We also have some wicks to the upside suggesting supply is coming to the market. Just remember that smart money can NOT get rid off their positions quickly due to the size their trades. Therefore they always have to sell in smaller tranches.
I am now looking here to see some bearish price action around 3100$- bearish fakey + high volume would definitely tease me to short it.
Good luck!
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