S&P Hourly Bearish thesis (ICT concepts)
S&P seems to be forming a bottom, but is leaving behind Low Resistance Liquidity in the form of failure swings. (Lows aren't taking out previous lows). Price will want to revisit there.
Price has been very heavy for the past days. Even though there is argument for price turning around this area, I would argue a cautiously bearish daily bias is in order.
There is a bearish Hourly Fair Value Gap above the current price. It formed after having taken Low Resistance Liquidity to the upside.
From this FVG, a bearish reversal structure on the 5m timeframe could be an entry signal for this bearish thesis to new daily lows.
Price has been very heavy for the past days. Even though there is argument for price turning around this area, I would argue a cautiously bearish daily bias is in order.
There is a bearish Hourly Fair Value Gap above the current price. It formed after having taken Low Resistance Liquidity to the upside.
From this FVG, a bearish reversal structure on the 5m timeframe could be an entry signal for this bearish thesis to new daily lows.