[SPX] BEWARE the Ghost HEAD... Still Holding 1M H&S Structure!
It's hangin by a thread but the Right Shoulder breakout is still contained within a 1M H&S Head Fractal aka Ghost Head.
Watch yourselves out there! Conditions may just be about to get even rougher.
Watch yourselves out there! Conditions may just be about to get even rougher.
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Back up to magenta, lets see if it breaks through or rejects, overall still pretty bearish...
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Fractals holding well...
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These new red and yellow dotted fractals are key inflection points to keep an eye on if we're going higher, otherwise you can watch it ping pong to a new low...
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Red dotted is a broader down megaphone bottom fractal that fits nicely along the top here.
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Ghost head moment of truth...
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It's trying to test the op of 1.5Y Peak Channel again, how it reacts there will make the next move more clear...
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Fractal rejected with some space and avoided the touch, typically bearish...
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Keep an eye on the iterating topping fractal inflections...
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Keeps getting stuck here, let's look out for breakthrough or rejection again...
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Tested the next dotted fractal...
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New topping fractal rejected Price today...
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Upchannel fractal held very nicely here, we're in No Man's Land, notice the gap over our red megaphone fractal, this is all lookin pretty precarious...
Data analyst with a passion for best fit lines B)
www.tradingview.com/...keout-Bull-Trap-Lol/