Last week's short on break of boundary was fruitful, with price reaching a major demand area. Thereafter, demand came in strongly to protect their position, presenting to us a wonderful long opportunity.
Preference will be to long on retracement.
Scenarios: 1) If market comes down on low volume, look for long when price finds support. 2) Supply overcome demand for short
Weekly = Average volume down bar closing off low = some demand, but weakness still present. Daily = High volume shakeout followed by average volume up bar closing at high = Strength H4: Very High Volume up bar closing at high = Strength.
Price reaction levels: Short on Test and Reject | Long on Test and Accept
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