YM1! US30USD DOW 2023 FEB 06

5 Şub 2023

YM1! US30USD DOW 2023 FEB 06

No trades taken for Dow last week as price stayed away from the
boundary of the rotation zone. We now have a rotation within
a rotation zone 34432-33624 :)
This is about 800pt range.
A modest upward trendline has formed, but but but demand is
is showing effort no result.
The 800pt range, although attractive, will unlikely be easy to trade.

Possible scenarios:
1) Rotational play: Trades can be executed at boundary of rotation
range 34605 / 32789.
- 34605-34432: Consideration - will market trace Nasdaq & SnP
for a breakout?
- Short if rejected at 34605-34432
2) Rotational breakout/breakdown:
- If price breakout, long when price retraces and finds support

Volume Analysis:
Weekly: Ave vol down bar close in middle = indecisive
Daily: Higher vol down bar close of low = some demand
H4: Ultra hi vol level bar, S>D = Supply coming in

Price reaction levels
Short on Test and Reject | Long on Test and Accept

35750 35228 34432-34605
33624 33037- 32789

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Have a profitable week ahead.