SPYLOVERS ! The Pullback is here ! What to do next....
Good morning everyone and welcome to another weekend session. For those following the SPY, we can see that the institutional rejection did indeed occur with a double top, and it was unable to break the Al Time High (ATH), leading to a pullback that we had already predicted weeks ago.
The question is: How far will the pullback go?
I have two levels: a liquidation zone limit and a historical demand zone.
Warning: DO NOT ATTEMPT TO CATCH A FALLING KNIFE !
The idea here is to let the price do what it needs to with this drop. Once it reaches one of these two zones, we will start to see bullish volumetric candles indicating the beginning of an upward trend.
For now, this analysis has been unfolding as we have been forecasting the movement. Let the price fall, and be very alert to determine whether this is just a small pullback or a longer one. We already know where the price will likely land.
Sending greetings and thank you for supporting my study.
The question is: How far will the pullback go?
I have two levels: a liquidation zone limit and a historical demand zone.
Warning: DO NOT ATTEMPT TO CATCH A FALLING KNIFE !
The idea here is to let the price do what it needs to with this drop. Once it reaches one of these two zones, we will start to see bullish volumetric candles indicating the beginning of an upward trend.
For now, this analysis has been unfolding as we have been forecasting the movement. Let the price fall, and be very alert to determine whether this is just a small pullback or a longer one. We already know where the price will likely land.
Sending greetings and thank you for supporting my study.
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