US30USD YM1! Dow 2021 Nov 22 Week
H4 chart shows market tracked the downtrend channel and met with
temporary support at 35550, a demand line of a larger uptrend channel.
1) If 35550 is broken and resisted, it may try 35250 // 35000
2) If market pushes downward of 35550 and returns to close above it,
there'll be long opportunity as the larger uptrend resumes.
Weekly: Average volume Average volume down bar = Weakness.
Daily = High volume down bar into previous resistance = weakness
H4 = Narrowing of spread bars and closing off low. There's buying into
the down move as market test a previous breakout area = Strength
will be confirmed if 35500 is supported.
Strategy for Long (Test and Accept)
Strategy for Short (Test and Reject)
Entry based on price reaction to the levels on YM1!:
37524 37100
36784 36446
36238 35988
35550 34948
34121 33718
33383 32906
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Have a profitable trading week ahead.
YM1!
