#US500 maybe we are dealing with top
The US500 index has been rising within a rising wedge pattern since January 17th. However, this strong bullish trend has begun to show signs of losing momentum as overlapping waves develop.
Overlapping waves are a key indicator of a potential reversal, signaling a loss of momentum. Additionally, the rising wedge pattern itself is a powerful reversal pattern.
The combination of diminishing momentum and the breakout below the rising wedge suggests that the bullish trend may be coming to an end, at least temporarily, and we could anticipate a bearish correction.
If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Overlapping waves are a key indicator of a potential reversal, signaling a loss of momentum. Additionally, the rising wedge pattern itself is a powerful reversal pattern.
The combination of diminishing momentum and the breakout below the rising wedge suggests that the bullish trend may be coming to an end, at least temporarily, and we could anticipate a bearish correction.
If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Zlecenie aktywne:
Price return back slightly inside the rising wedge pattern. However, until price failing to create new high the bearish breakout of the pattern is still valid for trading.
Zlecenie aktywne:
As you can see, not only is the price failing to create a new high, but it also appears that the price is breaking out of the wedge pattern again. This suggests that the recent bullish move was likely a pullback rather than a sustained upward trend.
