YM1! US30USD DOW 2023 MAY 08 WEEK
YM1! Test and reject of 34275 for first week of May:
Entry: 34105 | Risk 100pts (reduced size) | Exit 33674 | Profit 430pts
Now that YM has exited rotation, and tested boundary, we may see the
likelihood of a rejection trade from 33670. Set your alarm there.
Possible scenarios:
1) Test and reject of 33670 = short
Volume Analysis:
Daily: High volume breakdown from rotation, followed by lower
vol up bar close off high = confirmation of supply overcoming demand
H4: Lower vol up bar close off high = weakness
Price reaction levels
Short on Test and Reject | Long on Test and Accept
35228 34605 34275
33670 32681 31657
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Have a profitable week ahead.
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