ES1! swept the major liquidity resting below the Sep 24 low and is already starting to show signs of a reversal.Price could just keep pushing higher, but with a Volume Imbalance, IFVG, and Wickless Candle all lining up in the same zone, it’s a high-probability area for a retracement before any continuation.
From there, I’m expecting a brief accumulation around the weekly FVG, which also aligns with the equilibrium (50%) of this entire leg down.
After that, I’m looking for a break through the weekly FVG, a retracement back into it, then a move higher into the Daily FVG. Another small retracement from there and finally, a push up into the Feb 25 High.
A strong reversal from the weekly FVG would invalidate this scenario and could potentially slow down the recovery.
Note
Note: Flat candle is incorrectly labelled. There is a very small manipulation. I still think a retracement to that area is very likely to happen. 
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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.