2021 July 05 NAS100USD

3 Tem 2021

SPX500USD

2021 July 05 NAS100USD

New high for NAS again, and on low volume. Keep stops tight.

Weekly chart: Price advanced on low volume
Daily chart: Wide spread bar up
H4: Last bar closed off low indicating presence of supply.

Strategy:
1) Long if price supported at bottom of channel or price reaction zones marked out.
2) Long if there is wide spread bar down on high volume and price supported at the close level of the bar.
3) Short if price retest current high and is rejected.
4) Short if price makes new high and close off the high, and that bar becomes the resistance

Remember to like and follow if you find this useful. Have a profitable trading week ahead. : )