Last week e-mini Nasdaq & S&P broke out, are you all excited?
Let's see the possible scenarios for this week and hope you all can benefit from the sharing.
Last week's Scenario1 short and breakout trade
both offers TP of 50pts each.
Market is back into supply zone (circled), 3 TFs
showing supply coming in.
Temporary short opportunity may arise if market moves up on lower
volume and narrow spread.
Scenario Planning:
1) Short if 4209-4175 is resisted
2) Long on support and acceptance at 4094-4048 level when breakout level is tested.
Volume Analysis:
Weekly: High vol up bar close off high = supply coming in
Daily: Higher vol down bar, possible 2BR formation = supply coming in
H4: High vol down bar close at low (UT) = S>D. If up bar(s) after this is narrow spread and low volume, we may have a temporary short opportunity.
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4175 4094-4048 3928-3788
3580 3502 3231
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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