ES1! SPX500USD 2022 FEB 21 Week

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ES1! SPX500USD 2022 FEB 21 Week

Short preference last week worked well.

Scenarios:
1) If 4212 - 4267 is support = long
2) If price retraces on lower volume will look for
short opportunity.
3) If market breaks 4212, wait for test and reject to short,
or if 4212 is supported, then it will be a long opportunity.

Weekly: Average down bar closing near low = weakness.
Additionally, it looks like a reversal set up.
Daily: Average volume down bar closing off high =
demand present.
H4: Very high volume up bar closing toward low =
weakness

Price reaction levels:
Short = Test and Reject | Long = Test and Accept

4874 4800 4740
4587 4525 4411
4318 4267 4212

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Have a profitable trading week.