Last week's channel rejection trade and long on test of 12948 is good. Long on retracement remains preferred strategy.
Possible scenarios: 1) Upward channel continues for long on retracement. 2) Shortening of Thrust observed, upward momentum have be weakening. Market may present temporary short opportunity.
Weekly = Ave vol up bar = minor strength Daily = Low vol up bar = minor weakness H4: Weakness observed on bar A, with a test at B = minor weakness
Price reaction levels: Short on Test and Reject | Long on Test and Accept
14350 13580 12948
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