NQ1! NAS100USD NASDAQ 2023 JUNE 12
Significant Weakness observed on daily bar (Friday 09 June) as market is marked up on ultra low volume S>D bar.
If mark ups on low volume continues, tighten stops and don't chase longs. Prepare to look out for short opportunity.
Possible Scenarios:
1) Market continues to be marked up on low volume narrow spread up bars = tighten stops on longs / wait
2) When additional weakness emerges = Short on test and rejection of recent high / lower high
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
16646 15269 14575
*Longer term: 13350 needs to be supported for long trend to be intact.
Price Volume Analysis:
Weekly: Ave vol up bar close off high = NTC weakness
Daily: 09 June ultra low volume S>D up bar
*NTC = Non-Trend Changing
Like and follow if you find this useful.
Have a profitable trading week.
*For education purpose only.
Significant Weakness observed on daily bar (Friday 09 June) as market is marked up on ultra low volume S>D bar.
If mark ups on low volume continues, tighten stops and don't chase longs. Prepare to look out for short opportunity.
Possible Scenarios:
1) Market continues to be marked up on low volume narrow spread up bars = tighten stops on longs / wait
2) When additional weakness emerges = Short on test and rejection of recent high / lower high
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
16646 15269 14575
*Longer term: 13350 needs to be supported for long trend to be intact.
Price Volume Analysis:
Weekly: Ave vol up bar close off high = NTC weakness
Daily: 09 June ultra low volume S>D up bar
*NTC = Non-Trend Changing
Like and follow if you find this useful.
Have a profitable trading week.
*For education purpose only.
