paradox677

SPX500USD 2021 July 12 Week

OANDA:SPX500USD   S&P 500 Index
OANDA:SPX500USD

SPX500USD 2021 July 12 Week

Bar 1 confirmed as SOW and move was manifested on 06 Jul. Theme last week was similar
to Nasdaq - trapping longs and shake out

Weekly chart: Net gain from previous bar has diminished, volume has picked up slightly..
Daily chart: No significant weakness observed
H4 chart: Shortening of trust, weakness manifesting

Strategy:
Long on retracement is preferred.
1) If price returns to test bar 2, long when price is supported
2) Last bar shortening of thrust. If price hovers around that zone, we may have short opportunity
3) If you see a sudden spike in price and bar closes on its low, forming an upthrust, don't chase

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