SPX500USD ES1! SnP500 2021 Oct 04 Week
ES1!SPX500USD ES1! SnP500 2021 Oct 04 Week
Market exited the uptrend channel last week with conviction. On daily chart, two lower lows
and 1 lower high now gives us a down channel = change in trend.
Weekly: High volume ultra wide spread down bar close below halfway of bar = weakness
Daily: Up bar closing off high = weakness
Daily: Broke previous high but closed in middle of bar, supply was present = weakness.
H4: Market returned to test a previous rotation and also UHV bar A and closed off high - weakness.
Pink down channel also drawn in H4.
Entry will be based on price reaction at these levels.
Long (Test and Accept) | Short (Test and Reject)
4550
4530
4472
4455 - 4441
4415
4389
4367
4345
4260
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