ES1! SPX500USD 2022 FEB 07 Week

6 Feb 2022

ES1! SPX500USD 2022 FEB 07 Week

Last week's ES saw price rejection at previous breakdown level
4573 and test of breakout 4411-4446.
Shall 4411-4446 support hold, shall look for long opportunity.
If market returns into rotation, strategy will then be to
short at upper boundary resistance and long at lower boundary
support.
Indecision on Daily/Weekly bar may cause whipsaw movement,
trade with care.

Weekly: Average volume up bar closing in middle = indecisiveness
Daily: Average volume bar closing in middle. It has a lower low
than previous bar, and closed higher and in the middle
= some strength, but indecisive still.
H4: High volume Upthrust bar, weakness will be confirmed if
next bar closes lower.

Price reaction levels:
Short = Test and Reject | Long = Test and Accept

4874 4800 4740
4629 4573 4520
4492 4411 4446
4318 4267

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Have a profitable trading week.