Last week 12594 fought hard to hold up the market. UT has been confirmed now as market closed below 12594. Preference will be to short on retracement with 3 TFs showing weakness on the background.
Possible Scenarios: 1) UT setup confirmed: Targets 12180 // 11690 2) Breakout, then we will need to adjust strategy to long on retracement
Weekly = Average vol UT bar close below H/C of previous bar = weakness bar = strength + reversal Daily = Average vol down bar close toward low = weakness 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
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