FX:SPX500   S&P 500 Index
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).


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