ES1! SPX500USD 2023 MAY 15 WEEK
ES1! Are we seeing the bearish ascending triangle already?
As with NQ, tendency to take rotational trades has diminished.
Scenario Planning:
1) If market remain within 4163 - 4118 = No trade
2) Larger rotation 4198 - 4068 = trade at boundary of range
Volume Analysis:
Weekly: Lower vol down bar close off low = some demand present
Daily: Lower vol down bar close off low = some demand
present
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4303 4198 4163-4118 (No trade zone)
4065
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Have a profitable trading week.
*For educational purpose only.
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