ES1! SPX500USD 2022 AUG 29 Week
Rejection at 4204 was good for short.
Possible Scenarios are considered:
1) Long if 3940 / 4071 supported
2) Short on low vol retracement / rejection at 4071 / 3940
Weekly: Ave vol down bar = some demand
Daily: High vol down bar close off low = some demand
H4: Climatic down bar followed by very high vol
down bar close at low, breaking through previous support = bearish absorption
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4303 4204 4071
3950 3743
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Have a profitable trading week.
