Weekly update, 04.06.2018. SPX, ES1

CME_MINI:ES1!   S&P 500 E-mini Futures
Weekly update: this time a playable chart instead of a playable video =)


The information of this post is ”general advice only” and does not take individual circumstances into account so do not trade or speculate based solely on the information provided. By viewing this video you fully accept and agree that it offers general advice only and that trading the financial markets is a high risk activity and that you understand that past performance does not indicate future performance and that the value of investments and income from them may go up as well as down, and are not guaranteed.

As you can see, we´ve been pretty much flat during last 3 weeks which probably indicates a beginning of a summer period with low volumes and volatility . However, my reference points are there and the next one is at the cross of two forks which corresponds to 2784 ES1 approximately. I will take a short position there. If the level is broken, then, we probably need to expect more upside, maybe even above the ATH , and then I will review my target levels. However, even with the new ATH on NAS right behind the corner, I honestly still dont consider a new ATH on ES1 before we complete an A-B-C zigzag down as shown on a chart.

Trade well and have a good week!
Trade active: Shorted ES1! Let´s go for it!


I added shorts today as the cross of two forks and resisting cluster have not been beaten yet

No updates on this: we are still below everything so keeping shorts

Weekly chart is funny as it is showing we still have not arrived to the cross of two forks =) Notice how Stoch RSI entered the Overbought territory for first time since January ATH
Trade closed manually:

And there was a drop... But not big enough and there were buyers all the time. Stoch RSI is in oversold area now and turning thus I closed my short and waiting for another opportunity
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