Hanging Man Candlestick Setup

Discussion in 'Trading' started by jera67, Aug 21, 2012.

  1. jera67


    SPX just posted a potential bearish setup:


    We need to have bearish confirmation in the form of a gap down or big negative day on heavy volume, before taking any trade. Ageressive traders (like me !) can short SPX right here.

    2-Apr-12 high of 1422.38 is resistance.

    Is this an intermediate term high ???
  2. jera67


    We just had confirmation of the Hanging Man Candlestick.

    Conservative traders can wait for the ascending wedge to be broken and re-tested before entering short on SPX.