SPX : Diamond top widening out ready to crack?
Here is the trade and your odds: This pattern breaks down 69% of the time. 82% of the time when it and (if) it breaks down the downward move will be at least the same percentage move as the upward price move that led to the diamond top approx imately 21% .
This would translate into a dump right on or about the 50% fib retracement level at 3200 and change.
Also noteworthy is the confluence with previous gap support resistance just below the pre-pandemic high.
Stay short my friends. Journeyman
This would translate into a dump right on or about the 50% fib retracement level at 3200 and change.
Also noteworthy is the confluence with previous gap support resistance just below the pre-pandemic high.
Stay short my friends. Journeyman
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