SPX500USD 2021 Apr 26 Week (Intraday)
SPX500USDSPX500USD 2021 Apr 26 Week (Intraday)
What a week 19 April was. Long from bottom of channel only worked for
19 Apr, after which supply took over and price headed for 4124, a
previous demand zone in the channel.
Critical support at 4124 has been formed.
4194 = immediate resistance
The grey channel was a larger time frame channel. Note the rejection when price
approached the demand line (bottom of channel), shown by bar 1 and 2.
Bar 2 tells us that supply has came in again.
Strategies for the possible scenarios
1) Market has entered price rotation, range is between 4124 - 4194.
Trades will be made at the rotation boundary, with target 50% of range.
2) Should 4124 fail to hold, will look to short when market breaks and test 4124
3) Should price maintain above 4194, we can look to a resistance turned
support long.
Like and Follow if you find this useful : )
Have a good trading week ahead!
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.