SPX500USD
SPX500USD 2021 July 12 Week
Bar 1 confirmed as SOW and move was manifested on 06 Jul. Theme last week was similar
to Nasdaq - trapping longs and shake out
Weekly chart: Net gain from previous bar has diminished, volume has picked up slightly..
Daily chart: No significant weakness observed
H4 chart: Shortening of trust, weakness manifesting
Strategy:
Long on retracement is preferred.
1) If price returns to test bar 2, long when price is supported
2) Last bar shortening of thrust. If price hovers around that zone, we may have short opportunity
3) If you see a sudden spike in price and bar closes on its low, forming an upthrust, don't chase
Like and follow if you find this useful :)
Have a successful week ahead in whatever you do
