ES1! SPX500USD 2022 OCT 17
Market testing for demand after breakdown of 3580.
Possible Scenarios are considered:
1) If market forms a rotation, possible LONG opportunity
with test of 3808
2) Scenario for breakdown: Lower highs observed, or market
hanging around 3580 level. Short on test and reject of
breakdown area (since most breaks are normally false breaks)
Weekly: Ave vol down bar close off low = minor demand
Daily: Ave vol down bar closing at low = minor supply
H4: UHV down bar close at low = some demand
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
3903 3808 3580
3502 3350
Remember to like and follow if you find this useful.
Have a profit
able trading week.
Market testing for demand after breakdown of 3580.
Possible Scenarios are considered:
1) If market forms a rotation, possible LONG opportunity
with test of 3808
2) Scenario for breakdown: Lower highs observed, or market
hanging around 3580 level. Short on test and reject of
breakdown area (since most breaks are normally false breaks)
Weekly: Ave vol down bar close off low = minor demand
Daily: Ave vol down bar closing at low = minor supply
H4: UHV down bar close at low = some demand
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
3903 3808 3580
3502 3350
Remember to like and follow if you find this useful.
Have a profit
