Scenario1 breakout offered a fantastic week.
Hope you had joined in the ride. Target 13740 hit, and AR tested.
Possible Scenarios:
1) Continuation Long Strategy: Long on retracement. Price has to
come down on low volume
2) Breakout failure: If there is strong volume on down move,
it may signify a yet to be completed rotation, with more potential for
downside (zone 13740 - 10710)
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
15269 13740-13913
13350 12950
Price Volume Analysis:
Weekly: Ave vol up bar close off high = potential weakness
Daily: 19 May UT bar, ave vol= = potential weakness
Like and follow if you find this useful.
Have a profitable trading week.
*For education purpose only.
Hope you had joined in the ride. Target 13740 hit, and AR tested.
Possible Scenarios:
1) Continuation Long Strategy: Long on retracement. Price has to
come down on low volume
2) Breakout failure: If there is strong volume on down move,
it may signify a yet to be completed rotation, with more potential for
downside (zone 13740 - 10710)
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
15269 13740-13913
13350 12950
Price Volume Analysis:
Weekly: Ave vol up bar close off high = potential weakness
Daily: 19 May UT bar, ave vol= = potential weakness
Like and follow if you find this useful.
Have a profitable trading week.
*For education purpose only.
