NAS100 USD NQ1! NASDAQ 2022 May 30 week
Last week could be a setup for rotation scenario3 11690-12543.
The influence of minor strength over the 3 TF analyzed proved it is a week for
the longs after price brokeout the dotted trend line...
Note: H4 showed a build up of bullish volume last week. If 12594 is supported
we should look to long on retracement.
Possible scenarios:
1) Rotation Scenario: Rejection of 12594,
possible target will be 11690
2) Scenario 2 Long Set Up: (a) If market test between
12920-12250 and is supported, we may be looking for long opportunity.
(b) Also if 12594 is tested and supported we should then look to long on retracement
Weekly = Average vol up bar closing at high, above high of previous
bar = strength + reversal
Daily = Average vol up bars = minor strength
H4:Very High vol narrow spread up bar followed by lower vol up bar = weakness
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
14729 14365 13587
13025 - 12797
12594 12110 11690
11100-11068
Remember to Like and Follow if you find this useful.
Have a profitable trading week ahead.
