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WadeYendall
Nov 23, 2020 2:42 AM

ES Box inside the box 

E-mini S&P 500 FuturesCME

Description

Not much to do unless ES breaks out of a box. If you trade shorter term a trade can be made on a break above for below the smaller box with targets being the .886 in either direction.
If you trade longer term it is probably better to wait for a break of the larger box. I have no bias at this point as I want to see how it opens tomorrow am. Once we get a break in either direction
I will post potential targets/reversal zones.

Comment

Rejected off the top of the small box for now. 3580 is firm resistance right now.

Comment

Today is an example of why I often use simple boxes. Unless you see a clean break from these consolidation areas expect to get chopped up. If you are not a skilled scalper stay away or trade individual names with specific catalysts.

Comment

Patience pays...Broke the small box offering a fairly easy trade. Coming into the 886 target to the upside now.
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