ES1! SPX500USD 2022 NOV 07
Market ended the week within an 80pt rotation, pending resolution of
Demand and Supply.
Possible Scenarios are considered:
1) If market remains in range, trade at boundary of range.
2) Breakout of range: Long if price retrace to test and finds
support
3) Breakdown of range: Short if price retraces to test
breakdown and shows rejection of higher prices.
Weekly: Ave vol down bar close off low = minor demand
Daily: Higher vol up bar stopping supply = minor strength
H4: Narrower UHV effort no result down bar followed by
high vol up bar close off high = demand present
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4028 3925 3580
3502 3350
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Have a profitable trading week.
