US30USD 2021 Aug 02 Week
US30USDUS30USD 2021 Aug 02 Week
Rotation zone (Grey Box) short and long for Dow provided a comfortable trading week.
Weekly: Upthrust bar closing below close of previous bar = Weakness. No change in trend yet on weekly chart
Daily: Effort no Result + No Demand + last bar closing slightly below middle = Weakness
H4: Increase in bearish strength and last bar showed demand.
Although I am expecting history to repeat itself, again anything can happen. Volume hasn't shown any commitment
direction yet.
Strategy:
1) Rotation zone long/short - strictly keep stops tight as market has been in rotation for a week. The longer it builds its cause
the more intense the breakout
2) If you miss the breakout trade, join in on LTF (M5 and below) as market pauses or when a low volume counter-trend bar appears,
entry can on the bar when trend resumes.
Remember to like and follow if you find this useful.
Have a profitable trading week.
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