If the full moon tonight excites the animal within - I propose taking a look at the S&P500 daily chart... (although this is a 2hr chart for detail ;) Full bullish structure, a balance day after Friday's strong push. MA's are strong and previous price structure resembles a possible strong move to 4000
This entry isn't prime quality - I would like to enter cheaper, in fact I may just wait for 3820, but price action doesn't look like it will allow it and I get a hunch we may move higher quickly. My confidence in the up move this week outweighs hesitation.
Lets not forget the ghastly Fed meeting on Wednesday. Any shift in the Fed's ominous tone on the plan to increase interest rates in the future could create a lot of supernatural buying pressure - in fact that is what the charts are resonating to me.
If it's a treat I'm in. I'll comment if I raise the order in the morning. The plan will be to leave it valid for 2 days, I'm sure we will get a quick flash lower to that level.. *nod to zombie news traders finding liquidity lower before the blast higher.
Happy Halloween 2022! Trick-er-treat ES, you got Reeses Cups or Candy Corn?
Comment
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The overnight session is not showing any weakness, it's possible we see a little drop on the US open
Trade active
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Order raised to BUY +1 MES (Micro ES) at 3848 Stop 3755 (-$465) Target 4036 (+1405)
Order cancelled
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Removing this order after today’s price action, we’ve settled too close to our entry and the Fed meeting shock makes things too risky. Will be watching the 3820 level tomorrow.