US100 forms a rising wedge followed by a double top pattern near resistance around 23,100, signaling potential exhaustion in the bullish trend. Price has broken wedge support and is testing the neckline of the double top, aligning with Ichimoku cloud resistance. This confluence suggests a high-probability short setup targeting lower support zones.
🔸 Pattern: Rising Wedge + Double Top
🔸 Bias: Bearish Reversal
🔸 Entry: Below 22,770 (confirmed break)
🔸 Target Zones: 22,226 → 21,836
🔸 Stop Loss: Above recent high (~23,105)
🔸 Technical View: Bearish breakdown confirmed by price rejection and Ichimoku resistance
🔸 Fundamental View: Market may be reacting to macroeconomic pressures, earnings risks, or Fed rate pause speculation
Outlook: If price sustains below the wedge and neckline, expect continued downside toward target areas with favorable risk-reward.
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🔸 Pattern: Rising Wedge + Double Top
🔸 Bias: Bearish Reversal
🔸 Entry: Below 22,770 (confirmed break)
🔸 Target Zones: 22,226 → 21,836
🔸 Stop Loss: Above recent high (~23,105)
🔸 Technical View: Bearish breakdown confirmed by price rejection and Ichimoku resistance
🔸 Fundamental View: Market may be reacting to macroeconomic pressures, earnings risks, or Fed rate pause speculation
Outlook: If price sustains below the wedge and neckline, expect continued downside toward target areas with favorable risk-reward.
Note :If you found this helpful, like and follow for more trade ideas!
Share My Idea With Your Firends Mention Your Feed back Comment Section
This is not financial advice. Please conduct your own research and manage risk accordingly.
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For More Help
Telegram @Signals_98
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Telegram @Signals_98
t.me/+HZOTWoeqVoo3M2Nk
Our Channel
t.me/+HZOTWoeqVoo3M2Nk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.