SPY's Downtrend Reversal: A Technical Insight

3 hari lalu

In this TradingView idea, we delve into the recent price action of the SPY on the 15-minute candle frame. Observing the chart, it becomes evident that the persistent downtrend is showing signs of exhaustion. A key indicator of this potential reversal is the presence of a fair value gap (FVG), which suggests a temporary imbalance in the market. Notably, as the price made its next downward move, it failed to leave behind a fair value gap, indicating a lack of institutional buying at this level. This absence of institutional interest could imply that the price is stabilizing, setting the stage for a potential upward movement.

The focus now shifts to the unmitigated bearish fair value gaps that remain. The last significant bearish FVG was identified between the levels of 605.48 and 605.44. As the price cools down, it is poised to retrace and potentially mitigate these unaddressed gaps. This technical setup suggests a strategic opportunity for traders to anticipate a reversal, as the SPY looks to regain its footing and possibly embark on a bullish trajectory.

(Price Will Still Push Down a little Unless a Bearish Fair Value Gap is Formed and then enter Shorts at the Bearish Fair Value Gap that would Form.)

This analysis underscores the importance of fair value gaps in understanding market dynamics and predicting potential price movements. Let this Act as a FVG Trading Session to help get you trading SMART MONEY CONCEPTS >>>

kelmarin

Dagangan ditutup: sasaran tercapai

We absolutely crushed the market and most of all spy. I trade SPY 70% more then any other tickers or crypto. Here an up dated look to where i think price will go Monday open.