NAS100 USD NQ1! NASDAQ 2022 May 02 week
Last week Nasdaq followed scenario 2, with a break of 13025, retrace to
test demand and continued on a breakdown.
Both HTF and HI/H4 last point of supply has materialized. If there are
no surprise to disrupt this structure, we should be expecting a continuation of
downward movement. Therefore preference will be to short on retracement,
Possible Scenarios mapped out:
1) Continuation of downward momentum after break of 13025
2) To provide for the deviousness of market, the surprise aggressive retracement,
so we are mentally prepared
Weekly = Higher volume down bar closing at low, narrower range = minor strength
Daily = Ave volume down bar closing at low = weakness
H4:Average vol down bar closing at low = weakness
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
16767 16481 15992
15492 15160 14391
13881 13587 13025
12801 12626 12280
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Have a profitable trading week ahead.
