ES1! SPX500USD 2022 JUNE 13 Week
Last week a long awaited breakdown followed after Scenario1
rotation, and market tested lower level at 4031 before
heading south.
Possible Scenarios are considered:
1) Short on retracement
2) Rotation
3 Test of T1 / T2, Reject and short
Weekly: Ave vol, higher than previous bar's EwR
bar closing at low = supply remains, also
exhibited commitment to lower prices.
Daily: Ave vol down bar closing at low = supply remains
H4: Ave vol down bar closing off low = some demand present
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4874 4800 4740
4631 4584 4525
4433 4368 4303
4204 4071 3943
3902 3855 3720
*3913-4000 (previous high demand area)
Remember to like and follow if you find this useful.
Have a profitable trading week.
