The final idea of this S&P500 series.
Upon market open today, we went into a tight range, where a retracement was expected. We will safely head for TP2 now as price expands.
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S&P500 has failed to touch the "Swing High", or even the Swing High close. Meaning that there is not much to trade from(in my opinion).
However, the previous range is a good reference point and is therefore more meaningful. I have indicated a Bullish Order Block, a Fair Value Gap and an entry that is at the Equilibrium of that previous range.
TPs remain the same.
The price of the S&P500 went to the top of the previous range, then to our entry and things went to plan as TP1 was hit.
A retracement is expected before heading to TP2.
A follow up on my previous idea:
The price of S&P500 failed to reach the top of the current range, meaning it is not prepared to fill the void yet. I anticipate another reach to the bottom of the range, the same FVG, but this time also finding the equilibrium of the Swing High and Swing Low that I indicated.
Take Profits remain the same: At the top of the void...
After the big selloff on Thursday - the day before NFP - S&P500 left a liquidity void that must be filled. NFP helped it get out of that bottom range leaving clean lows, a future price target for sellers.
It has created a small range which we are currently in, coming off of a fair value gap at equilibrium (50% Fib).
The price targets for long positions are at...
