SPY is ready to bounce again
The substantial price declines in the SPY are notable, as the market struggles to break free from its downtrend and consistently establishes new lows and lower highs. Nonetheless, it is worth mentioning that this downward trend is marked by frequent and swift corrections.
Given the current scenario where the market has attained a level of sell-side liquidity, there arises an opportune moment to initiate a potentially profitable long position with a relatively low level of risk.
This trade is set to target the lower boundary of an Institutional Fair Value Gap, presenting a risk-reward ratio of nearly 4:1.
Given the current scenario where the market has attained a level of sell-side liquidity, there arises an opportune moment to initiate a potentially profitable long position with a relatively low level of risk.
This trade is set to target the lower boundary of an Institutional Fair Value Gap, presenting a risk-reward ratio of nearly 4:1.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.