SPY waiting to fill FVG
SPY just hit resistance after a price displacement and now we must fill this gap in order to continue. We may need the CPI as a catalyst to breakout from these levels.
Nota
This consolidation between the noted support and resistance looks likely to breakout above the 386 levels.Nota
Consolidation broke out as expected and but there are many FVG created. I believe we have to retest these levels. Specially the new FVG created above the resistance line. We must not forget the bigger time frames have a bearish trend.Taking profit and entering short term puts might be a good protection against next weeks volatility from CPI.
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