ES1! SPX500USD 2022 JULY 18 Week

16 Jul 2022

ES1! SPX500USD 2022 JULY 18 Week

Last week' rotation trade was good.
Rotation strategy applies for this week as well.
Minor strength observed, so additionally there's a preference to long on
retracement.

Possible Scenarios are considered:
1) Market rotation = trade at boundary of range
2) Channel rejection / support trades
3) Behavior change scenario for long on retracement
4) Trend continuation

Weekly: Ave vol down bar close toward high = minor strength
Daily: Ave vol up bar close at high = minor strength
H4: High vol narrow spread up bar followed by tiny ave vol up bar = weakness

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

4071 3950 3742
3642 3600 3540

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Have a profitable trading week.