The right-hand chart consists of 1month candles. I took the range of the 08 crash and extended it a few times - each box represents a full 100% extension. November 2020 gave us what may considered to be a "blow-off top" - I saw this as an opportunity to extrapolate the uptrend established in 09. Whether or not this continues to be fruitful is yet to be seen.
📈 I remain bullish with a de-facto upside trigger of ES_F 3860
This targets: 3872, 3879, 3889, and 3906.
Extended target 3998
📉 Downside trigger is ES_F 3806
This targets: 3784.50, 3766.75, 3743.50, 3738
🔑 Takeaways here: We are nearing a pretty significant resistance region of ES_F 3889-3998. It would be wise to de-leverage and see how we handle it before proceeding. That being said, outlook for the immediate term is positive.
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