Result for week of 30 Jan yielded yielded 550pts in total for 2 trades.
Market was resisted at a previous supply area.
Supply has come in to defend the 12987 area, with a potential
for market to return to test 12140-11983.
Possible scenarios:
1) Long on test and accept of breakout area 12140-11983
2) Short at rejection of 12987-12927 // 12618
Volume Analysis:
Weekly = Higher vol up bar close off high = Weakness
Daily: Potential 2BR high vol = Weakness
H4 = 2BR + UT + down bar = Weakness
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
13587 12987-12927
12618 12140-11983
11603
Remember to Like and Follow if you find this useful.
Have a profitable trading week ahead.
