Scenario 2 short yielded handsome profit if you had followed 07 Aug's analysis. 18 Aug's bar showed some demand. NQ1! Possible scenario: 1) Continued short opportunity if market test downward trendline and is rejected
2) Market tests breakdown area 15138-15511 (yellow box), and is rejected = short
Price Reaction Levels Short on Test and reject | Long on Test and Accept
16029 15524 15138 14638 *Longer term: 13350 needs to be supported for long trend to be intact.
Price/Volume/Trend Analysis: Weekly: NTC Ave vol down bar, close off low (some demand) Daily: Ave vol down bar | ENR | SOT | DOWNTREND *NTC = Non-Trend Changing | PTC: Potential Trend Changing
Like and follow if you find this useful | *For education purpose only. Have a profitable trading week.