ES1! SPX500USD 2022 JUNE 20 Week
ES1! SPX500USD 2022 JUNE 20 Week
Last week favored the shorts. Some demand on the weekly & H4 bar may
cause a retracement for temporary long opportunity.
Possible Scenarios are considered:
1) Long if 3600 /3642 is supported
2) If retracement to higher levels happen on weak volume, = short on
price rejection
3) Rotation (grey box) = trade at boundary or no trade
3 Dear History repeats as demand returns
Weekly: High vol down bar closing off low = demand present
bar closing at low = supply remains, also
exhibited commitment to lower prices.
Daily: Ave vol up bar closing in middle = indecisive
H4: Last 2 bar combined = UHV down bar closing above mid of bar = demand
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
3878 3843 3723
3642 3600 3540
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.