$SPX - South Liquidity Run Before heading North
We Should See prices start to head up after reaching into the Fair Value Gap, up towaard 3967-3965 (Depending on broker) At this point there is also a Fair Value Gap as well as Bearish Order Block. I expect price to hit this area after the around the bell 9:15= 10:300 Eastern Time. This is where you should see the initial Sell.
(SEE CHART)
and the sell should reach around 3952 before it starts to turn. Why is it making a turn north? There are equal highs that price will want to attack. Keep in Mind there are a few more areas that have liquidity a little bit lower that price could reach, 3948 has an order block as well as the top of a breaker that could start making the turn.
(See Chart)
3939 is another breaker.
(See Chart)
And lastly 3934 would break all the liquidity and hit the last breaker. Unless it wants to take a huge dive south, I don't see it getting lower than this.
Once I can realize where the turn is I'll make the call to close the short trade and to go long. In the long we're aiming for the equal highs around 3977. Other take profits are 3982-3985 as that is bearish order block and fair fair value gap before the next high. The Last take profit be the current 127% Extension. 3994.1.
Once again, I'll have to read what's happening the entire time to make sure we're getting the best out of this trade. I wanted to do a NAS one but I dont have time.
SPX500USD
(SEE CHART)
and the sell should reach around 3952 before it starts to turn. Why is it making a turn north? There are equal highs that price will want to attack. Keep in Mind there are a few more areas that have liquidity a little bit lower that price could reach, 3948 has an order block as well as the top of a breaker that could start making the turn.
(See Chart)
3939 is another breaker.
(See Chart)
And lastly 3934 would break all the liquidity and hit the last breaker. Unless it wants to take a huge dive south, I don't see it getting lower than this.
Once I can realize where the turn is I'll make the call to close the short trade and to go long. In the long we're aiming for the equal highs around 3977. Other take profits are 3982-3985 as that is bearish order block and fair fair value gap before the next high. The Last take profit be the current 127% Extension. 3994.1.
Once again, I'll have to read what's happening the entire time to make sure we're getting the best out of this trade. I wanted to do a NAS one but I dont have time.
SPX500USD
Trade active:
Tapping the breaker now, should push it upwards. I'm surrently in a long waiting for it to see it reaches my spot.
Comment:
It did not get as high as I wanted to so I took a loss going for the long hoping to get to the area I called. I did make a quick short after I exited the long and make a quick scalp and retained about half of my losses. I'm back in the long now as I can see it's extrememly oversold, it's hit an order block, and also that same order block was the mean threshold for a different 15 min order block. It Should hopefully now be a long day of climbing
Comment:
Knocked out. Let me look at this at re-analyze. I may just need to wait to let it get to it's lowest points. I'm letting my indicators get in my way.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
