Falling Wedge has formed with the S&P 500 since 1 July 2021.
We then recently had a breakout above 3,991 which confirmed upside to come.
With the strong Engulfing up candles, we can expect the price to soar in the next few weeks.
That is if the trend does hold and doesn't cause a fakeout.
Price>200
RSI>50
My first target is at 6,000.
SMC
Below the Falling Wedge, there is a clear sign of Sell Side Liquidity.
This is where Smart Money buys into positions (and sweeps liquidity) from traders who are long (get stopped) and for short traders who enter into their trades.
This causes the price to rocket up each time it touches this Order Block.
Now we'll need a strong catalyst for upside to continue. I am rooting for this one...
We then recently had a breakout above 3,991 which confirmed upside to come.
With the strong Engulfing up candles, we can expect the price to soar in the next few weeks.
That is if the trend does hold and doesn't cause a fakeout.
Price>200
RSI>50
My first target is at 6,000.
SMC
Below the Falling Wedge, there is a clear sign of Sell Side Liquidity.
This is where Smart Money buys into positions (and sweeps liquidity) from traders who are long (get stopped) and for short traders who enter into their trades.
This causes the price to rocket up each time it touches this Order Block.
Now we'll need a strong catalyst for upside to continue. I am rooting for this one...
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.