WISHING CHINESE FRIENDS A PROPEROUS YEAR OF THE RABBIT!
Did you do Scenario1 11385 long? Market gave at least 200pts.
Possible scenarios: 1) Short if rejected between 12400 - 12140 / 11727 2) Continuation long on retracement if price retraces on low volume or supported by channel 3) Breakout of rotation = possible long if price continues to trade at upper boundary of rotation zone.
Volume Analysis: Weekly = Low vol up bar close off high = No Demand Daily: Ave vol up bar = No demand H4 = High vol up bar close toward high = No Demand
Price reaction levels: Short on Test and Reject | Long on Test and Accept
12987 12400 - 11908 11729 11385 10710
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