SPX500 - SHORT STRUCTURE IDEA (TARGET 4725)
What's on the chart?
1) An old high that marked a strong year for 2023.
2) A rebound in a weekly FVG that earlier served as a bullish signal for prior trading sessions.
3) In the process of that rebound, a 4H bullish FVG was formed which will serve as our target area + fibs.
4) The 2023 high was broken.
5) IMPORTANT: the new high wasn't taken out. Hmmm.. suspicious. That to me is a sign of weakness from the bulls.
6) On this flop of bullish momentum, a bearish 4H FVG was formed.
7) Market structure shift with a low taken out. Do we expect a rebound? Well I don't know. I'm not here to claim that I predict the future like most twitter gurus will imply. But if it does, this is how I see the rest go down.
8) A rebound in the 4H FVG, this is crucial for a short setup because it would imply a lower high. Super important!! Price doesn't need to go that high though to find a short setup. We could just break our imaginary trendline and that's it.
9) The descent into the abyss of short profits (or liquidations lol).
1) An old high that marked a strong year for 2023.
2) A rebound in a weekly FVG that earlier served as a bullish signal for prior trading sessions.
3) In the process of that rebound, a 4H bullish FVG was formed which will serve as our target area + fibs.
4) The 2023 high was broken.
5) IMPORTANT: the new high wasn't taken out. Hmmm.. suspicious. That to me is a sign of weakness from the bulls.
6) On this flop of bullish momentum, a bearish 4H FVG was formed.
7) Market structure shift with a low taken out. Do we expect a rebound? Well I don't know. I'm not here to claim that I predict the future like most twitter gurus will imply. But if it does, this is how I see the rest go down.
8) A rebound in the 4H FVG, this is crucial for a short setup because it would imply a lower high. Super important!! Price doesn't need to go that high though to find a short setup. We could just break our imaginary trendline and that's it.
9) The descent into the abyss of short profits (or liquidations lol).
Related publications
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.