Neither scenario manifested for last week, didn't manage to trade. Daily vol analysis still shows that Demand < Supply, while weekly analysis may be pointing to potential buying climax, which further weaknesses must be manifested in order to substantiate this story.
Possible scenarios: 1) After weakness on the last 2 bars, short if channel or 15547 is resisted 2) Or short from 16030-15900 zone 3) Long on retracement if channel support is obeyed
Price Reaction Levels Short on Test and reject | Long on Test and Accept
16030 15547 15049 14635 13960 *Longer term: 13350 support must hold for long trend to be intact.
Price/Volume/Trend Analysis: Weekly: Ave vol up bar close of high = NTC minor weakness Daily: No supply up bar followed by S>D bar = PTC weakness *NTC = Non-Trend Changing | PTC: Potential Trend Changing
Like and follow if you find this useful | *For education purpose only. Have a profitable trading week. NQ1!