Pavley

Larger time frame Ascending Channel

Short
CME_MINI:ES1!   S&P 500 E-mini Futures
As you all saw in my previous posts, we were in a smaller time frame descending channel along with a descending wedge (charted with red trendlines ) after we got the breakout we were looking for, we validated a LARGER time frame ASCENDING channel . Sure enough, the rejection we saw overnight validated the top and i have the bottoms charted. I do anticipate a small bounce at the open (maybe to fill gap on SPY pre market) before heading down. I also have a rough drawing of where I anticipate we will head down along with the bounce up (longer run, i believe we will see something around 4535, after the dip we will see first of course)

I hope this helps!!!!

PG13