The market is showing a solid bounce as buyers step in to fill the gap left by the quick drop.
I am looking at $SPY USDT on the 1-hour chart and the trend is shifting back to bullish. My trade plan is to take a long position because the price has successfully reclaimed the mid-range level after a deep liquidity grab. I noticed that the volume started to pick up as soon as we hit the $704.00 area, showing strong interest from buyers.
I see a target zone near the previous highs where a lot of sell orders are likely sitting. The market structure is now making higher lows, which gives me confidence that the upward move will continue. I am keeping my stop loss tight below the recent recovery candle to protect the trade.
Trade Plan:
Entry: $709.53
Stop Loss: $705.53
Take Profit 1: $713.53
Take Profit 2: $717.53
SPYUSDT
دائم
709.86
+0.43%