S&P 500 - Fibonacci rejection - upside active

SPX500 needed to created a descending channel after the high to engineer some liquidity for continuation of long positions.

Where did price fall to?
Key Fibonacci 0.618 - 0.705 levels
Why is this important?
Look left - the white candle shows an imbalance on the previous bullish engulfing .

We are currently long but await the next buy from a daily low.

See the Vix vs S&P500

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Transaction en cours:

Target 1 is met