ES1! SPX500USD 2022 NOV 07

ES1! SPX500USD 2022 NOV 07

Market ended the week within an 80pt rotation, pending resolution of
Demand and Supply.

Possible Scenarios are considered:
1) If market remains in range, trade at boundary of range.
2) Breakout of range: Long if price retrace to test and finds
support
3) Breakdown of range: Short if price retraces to test
breakdown and shows rejection of higher prices.

Weekly: Ave vol down bar close off low = minor demand
Daily: Higher vol up bar stopping supply = minor strength
H4: Narrower UHV effort no result down bar followed by
high vol up bar close off high = demand present

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

4028 3925 3580
3502 3350

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Have a profitable trading week.