Last week long from 3742 was good. Market
is near channel and recent resistance. Together
with 3TF analysis weakness, short opportunity may be
present. The below scenario still applies for this week.
Possible Scenarios are considered:
1) Market rotation = trade at boundary of range
2) Channel rejection / support trades
3) Behavior change scenario for long on retracement
4) Trend continuation
Weekly: Low vol up bar close off high = weakness
Daily: Ave vol narrow spread UT bar = weakness
H4: UHV bar close off high = weakness
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4071 3950 3742
3642 3600 3540
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Have a profitable trading week.
