SPY - Liquidity Analysis
Updated
I observe a bullish configuration. There is a notable institutional accumulation of liquidity, which presents a strong potential for price extension beyond the 490 level, particularly considering the impending tech earnings announcements this week. My strategy will be to closely monitor the liquidity pools for an opportune entry point during a potential liquidity sweep. Nevertheless, should there be a breakdown from the ascending triangle pattern, I will approach it with caution. In such a scenario, I would be inclined to initiate short positions near the levels previously impacted by liquidity sweeps and where significant liquidity pools are located. Given the current market dynamics, this approach is aligned with prudent risk management.
Trade closed: target reached
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