Scenario1 breakout offered a fantastic week. Hope you had joined in the ride. Target 13740 hit, and AR tested.
Possible Scenarios: 1) Continuation Long Strategy: Long on retracement. Price has to come down on low volume 2) Breakout failure: If there is strong volume on down move, it may signify a yet to be completed rotation, with more potential for downside (zone 13740 - 10710)
Price Reaction Levels Short on Test and reject | Long on Test and Accept
15269 13740-13913 13350 12950
Price Volume Analysis: Weekly: Ave vol up bar close off high = potential weakness Daily: 19 May UT bar, ave vol= = potential weakness
Like and follow if you find this useful. Have a profitable trading week. *For education purpose only.