So here we have SPX retesting 3340. Most likely it is going to retest and go back down to 3320 and consolidate for a few hours until it makes its way down to 3240. We have two options. It is going to either break through 3320 and retest then make its way down to 3240 or its gonna break though and shoot down to 3240 then retest. If you follow structure the market is creating LHs and LLs. There is no reason to looking for buys unless break and retest. We are in a down trend so trade with the trend. Once we get to 3200, the market will tell us if its going to continue to go down or make its way backup.
Kommentera:
Edit: We are looking for a short term buy to 3400 for a retest of structure from 3320