ES1!ES1! SPX500USD 2021 Oct 25 Week
Market went up on narrow spreads, made new high and a UHV
ultra wide spread bar took out the previous 6 bars' low.
This is weakness. If market moves up on tiny spread and lower
volume, this is no demand, don't get trapped in long positions, or
tighten stops if long.
Weekly: Low volume up bar closing off high = Weakness.
Daily: Higher volume down bar closing off high,
selling as market high was made. Tighten stops.
H4: Ultra High Volume down bar close below middle and the low
took out last 6 bar's lows = weakness. If next is a down bar
this further confirms weakness.
Entries will be based on price reaction to the levels
Short = Test and Reject | Long = Test and Accept
4552 4515
4472 4411
4381 4333
4267
Remember to like and follow if you find this useful.
Have a profitable trading week.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.