NQ1! Last week 1 trade done at short from rotation high, stopped out, we will be looking at possible senarios below:
1) Breakout success: Price comes down on lower volume, finds support, for a Test and Accept long. Nearest target is 13740. 2) Breakout Failure: Price rejected at higher prices, for a test and reject short, back into rotation area.
Note: If you see higher lows being formed in the rotation area, this may be followed by a successful break, and market will attempt 13740. Draw your trendlines to observe.
Price Reaction Levels Short on Test and reject | Long on Test and Accept
15186 13740 13350 12936 12130
Price Volume Analysis: Weekly: No Demand narrower spread up bar close off high = Weakness Daily: Higher bullish volume observed, close off high = weakness
Like and follow if you find this useful. Have a profitable trading week. *For education purpose only.
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