Hi Traders,
S&P500 (SPX500) Double Top And Orderblock Entry is the trade of the day. Price has created two tests at 39835 and then fell from there, This has resulted in a Double top formation.
Price has come back to retest the broken neckline of the current double top. I have taken this entry as we have a few confluences coming into play which are the following.
Price has left an order block at 3895 which is now being retested. Price is also retesting a neckline at the exact same price. Price is in a downtrend and this could be a place for the extension to the downside.
My target is the low of 3672 where I will close all my positions.
Do not over risk.
Renaldo Philander
S&P500 (SPX500) Double Top And Orderblock Entry is the trade of the day. Price has created two tests at 39835 and then fell from there, This has resulted in a Double top formation.
Price has come back to retest the broken neckline of the current double top. I have taken this entry as we have a few confluences coming into play which are the following.
Price has left an order block at 3895 which is now being retested. Price is also retesting a neckline at the exact same price. Price is in a downtrend and this could be a place for the extension to the downside.
My target is the low of 3672 where I will close all my positions.
Do not over risk.
Renaldo Philander
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.
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.