SPY's Potential Reversal at New York Open

Hôm kia

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Market-Description:
In this analysis, we're observing the SPY chart on a 15-minute timeframe as it approaches the New York Open on Monday. The chart illustrates a potential retracement back up towards the most recent bearish Fair Value Gap (FVG), which is creating liquidity for the market to potentially move further down.

Key Observations:
Bearish Fair Value Gap: Identified as a critical zone where price may react, providing a potential entry point for short positions.
Liquidity Creation: The retracement towards the FVG is seen as a mechanism for liquidity creation, setting the stage for a possible downward move.
Trend Break and Reversal: After the initial downward move, we anticipate a break in the trend, leading to a reversal back towards the upside.
This prediction is based on past observations and aims to provide insights into potential market movements. Traders should watch for any current Fair Value Gaps and monitor price action closely as the market unfolds.