2021 Aug 02 Week

1 באוג׳ 2021

HK33HKD

2021 Aug 02 Week

Last week a historically UHV down bar appeared. Strength always appears on UHV ultra wide spread DOWN bar.

Weekly: Market has rolled over with a wide spread down bar closing in middle (UHV) = Indecision.
Price bounced off Monthly channel demand line.
Daily: Shakeout + Reversal = Strength. Market was resisted at 26340 temporarily.
Given the UHV, there should still be supply to clear.
H4: Bar A UHV ultra wide spread bar closing off low = strength. Automatic reversal after climatic Bar A
has reasonably good bullish volume. Test of the lower region of bar A is to be expected.
Bar B test of low has off the low and level with bar A, some demand is present.

Strategy:
(1) Red/Green zones = preferred entry
(2) Dotted Red/Green is to indicate late entry, but risk will be higher since SL is further away

Remember to follow and like if you find this useful.
Have a profitable week ahead.