With recession fears growing, a lot of individuals are short here, and will accept a bull case scenario if we see a break of 4200, or a break of the February highs.
Thus, what I'd like to see is price going up and taking out the February highs during either Monday or Tuesday.
Then, on Wednesday, with the Core CPE data coming out, I'd like for that news to be a catalyst to see an initial move up, purging the liquidity, and turtle souping, above the highs created on Monday/Tuesday. I'd like to see price go up into the weekly FVG that I have highlighted from where we should see some sort of distribution in the smaller timeframes to then start a new swing move lower.
My first initial target would be the BISI at 4052.50. Price could play around at this level, or reverse or a bit.
If we manage to break through that BISI, I'd like to see price take out the low beneath it.
Thus, what I'd like to see is price going up and taking out the February highs during either Monday or Tuesday.
Then, on Wednesday, with the Core CPE data coming out, I'd like for that news to be a catalyst to see an initial move up, purging the liquidity, and turtle souping, above the highs created on Monday/Tuesday. I'd like to see price go up into the weekly FVG that I have highlighted from where we should see some sort of distribution in the smaller timeframes to then start a new swing move lower.
My first initial target would be the BISI at 4052.50. Price could play around at this level, or reverse or a bit.
If we manage to break through that BISI, I'd like to see price take out the low beneath it.