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Potential BEARISH ABCD in SPY on 1-hour chart

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
Harmonic Patterns AB=CD SPDR S&P 500 ETF (SPY) short Bearish Patterns 1hour harmonictraders
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harmonicpatterns abcdpattern spy short bearish 1hour harmonictraders
Hey all!

There is a BEARISH ABCD pattern formation going on in SPY Hourly chart. The pattern is very close to formation and RSI is in overbought zone. I see a high probability SHORT trade in this setup. You can either enter the trade right now with a tight stop-loss or you can wait for price rejection around 350. I also marked profit taking levels. It is up to you.

Have a great week!
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