NAS100 USD NQ1! NASDAQ 2022 Aug 01 Week
Last week price has reached previous supply zone. Given the upward channel,
long on retracement is preferred. And if upward channel is broken down and
resisted, then target will probably be 11348-11068.
Possible scenarios:
1) Upward channel continues for long on retracement.
2) Possible formation of range 12971 - 11348-11068
Weekly = Ave vol up bar close toward high = minor strength
Daily = Ave vol up bar close off high = minor weakness
+ engulfing bearish reversal candle = S>D
H4: UHV narrow spread up bar + high vol up bar close off high = weakness
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
12906 12442
12262 - 11348 rotation zone
11800 11068 10359
<10,000 break of psychology support
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Have a profitable trading week ahead.
