ES1! SPX500USD 2023 FEB 06

ES1! SPX500USD 2023 FEB 06

Last week's Scenario1 short and breakout trade
both offers TP of 50pts each.
Market is back into supply zone (circled), 3 TFs
showing supply coming in. Temporary short
opportunity may arise if market moves up on lower
volume and narrow spread.

Scenario Planning:
1) Short if 4209-4175 is resisted
2) Long on support and acceptance at 4094-4048 level when
breakout level is tested.

Volume Analysis:
Weekly: High vol up bar close off high = supply coming in
Daily: Higher vol down bar, possible 2BR formation = supply coming in
H4: High vol down bar close at low (UT) = S>D. If up bar(s) after this
is narrow spread and low volume, we may have a temporary
short opportunity


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

4175 4094-4048 3928-3788
3580 3502 3231

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Have a profitable trading week.