NAS100 USD NQ1! NASDAQ 2022 FEB 07 week
Last week's trade from 14582 was good, with a test again of 14582 means those looking for a
long position again can do so should 14582 support become successful.
Possible Scenarios:
a) Price returns into previous rotation zone 14582 - 13635 = short at upper boundary resistance and and
long at lower boundary support
b) If price comes down on low volume, look for long opportunity on retracement.
c) if price advances on narrow spread and low volume, do not long, Rather prepare to short
on weakness.
This week's preference will be to long on pullback, but do look out for the
trap mentioned per (c).
Weekly = Average volume up bar closing at lower third of bar = Weakness
Daily = On the last daily bar price came down and managed to close higher, demand is present.
H4: Average volume Upthrust bar testing 14582 = If next bar closes lower, weakness is confirmed.
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
16767 16481 15992
15492 15160 14582
14462 13706 12955
12465
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Have a profitable trading week ahead.
