YM1! US30USD DOW 2023 JAN 29

29 בינו׳ 2023

YM1! US30USD DOW 2023 JAN 29

No trades taken for Dow last week as price stayed away from the
boundary of the rotation zone. Market crawled up on declining
volume, a sign of weakness.

Possible scenarios:
1) Rotational play: Trades can be executed at boundary of rotation
range 34605 / 32789.
- Long if supported at 32789-33037
- Short if rejected at 34605-34432
2) Rotational breakout/breakdown:
- If price breakout, long when price retraces and finds support
- If price breakdown, short when price retraces and is rejected

Volume Analysis:
Weekly: Ave vol up bar close off high = No demand
Daily: Low vol up bar close off high = No demand
H4: Ultra High vol up bar close off high, followed by ave vol
down bar = weakness confirmed

Price reaction levels
Short on Test and Reject | Long on Test and Accept

35750 35228 34432-34605
33037- 32789 30513 28635

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Have a profitable week ahead.