ES1! SPX500USD 2022 SEP 19 Week
ES1! SPX500USD 2022 SEP 19 Week
ES's long trap played out on Monday, later than the other 2 US indices,
before the shorts took over on Tue 13 Sep.
Friday's last 2 H3 up bars happened on very high volume. Keep stops
tight if long as there is likely selling into the up move.
Possible Scenarios are considered:
1) Temporary long opportunity if 3853-3902 is supported
2) Short if test and rejection of rotation area (circled on chart) /
rejection of 4051 / 3981
Weekly: High vol down bar close off high = demand coming in
Daily: Ave vol down bar close toward high = demand > supply
H3: Ultra high vol up demand bar followed by 2 very high vol up bars
= caution as there may be selling into the up bars
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4303 4175 4051
3981 3903-3853 3742
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.