Last week's long on retracement preference worked well.
Market is now testing previous supply zone.
Temporarily weakness for short opportunity may be expected.
If you see price loitering at the upper end of the rotation range,
there's a potential for a breakout.
Possible scenarios:
1) If market rotates = rotational play strategy, i.e. trade at boundary of range
2) & (3) = Behavior change scenario
Weekly = Ave vol up bar close off high = minor weakness
Daily = Ave vol down bar close off low = minor weakness
+ engulfing bearish reversal candle = S>D
H4: UHV down bar followed by up bar = strength
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
12906 12442
12262 - 11348 rotation zone
11800 11068 10359
<10,000 break of psychology support
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Have a profitable trading week ahead.
