Week of 06 March, market gave 300pts from 2 trades.
Market is trapped between 12418 - 11930. Although daily bar showed little supply for short term long opportunity, the low volume means it is cheaper to whipsaw the market. Trade with caution.
Possible scenarios: 1) Market continues to be range bound between 11930-12418 2) 11930 support long (test of breakout area) 3) 12418 // 11930 continuation short to reach bottom range of larger rotation zone 10710- 11135
Volume Analysis: Weekly = Ave supply down bar (non-trend changing) Daily: No supply ULTRA low vol down H4 = Supply showed effort no result + Low vol No Supply down bars
Price reaction levels: Short on Test and Reject | Long on Test and Accept
13587 12950 12418-11930 11135 - 10710
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