After the big impulse move on Monday, S&P500 broke the daily structure to the upside for the first time since the start of September.
We bounced from 100-DMA with a short-trap, which builds up our idea for a long setup.
The most favorable entry price can be found around the POC of the HVN we are currently trading in, which is around 3244.
If the price reaches the level before running to the high of the HVN at 3400, we can consider taking this long.
Acceptance below Friday's low will open the door to much lower prices with key areas of interest at 3107 that is HVN POC and 200-DMA and 3000 that represents a big figure, yearly VWAP, and bottom of the HVN.
We bounced from 100-DMA with a short-trap, which builds up our idea for a long setup.
The most favorable entry price can be found around the POC of the HVN we are currently trading in, which is around 3244.
If the price reaches the level before running to the high of the HVN at 3400, we can consider taking this long.
Acceptance below Friday's low will open the door to much lower prices with key areas of interest at 3107 that is HVN POC and 200-DMA and 3000 that represents a big figure, yearly VWAP, and bottom of the HVN.