Today SPX formed a very bullish candle , usually these type of candle with out any wick are dangerous, dangerous because it doesnt tell anything much. This can be a bear trap or a short covering , but whatever the candle is i am expecting a pull back to the support level as mentioned in chart. This pull back can happen next week probably, we can see a green Monday but i believe Monday will be red . Market has got a good run this week and last week, so a pull back is expected
Remember there is a saying bulls dont last more than 3 days and bears 4 than 4 days, so be ready for few red days ahead
I think the best strategy will be to cover the longs and some stock will also provide buy the dip opportunity
I hope you are enjoying my analysis, ideas here are for entertainment and education these are not trading advice. Dont forget to like , follow me and check my other ideas
Remember there is a saying bulls dont last more than 3 days and bears 4 than 4 days, so be ready for few red days ahead
I think the best strategy will be to cover the longs and some stock will also provide buy the dip opportunity
I hope you are enjoying my analysis, ideas here are for entertainment and education these are not trading advice. Dont forget to like , follow me and check my other ideas
Note
Remember there is a saying bulls dont last more than 3 days and bears for more than 4 daysTrade closed: stop reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.