I've been very interested lately in the Elliot Wave Theory and how it can give high probability road map of where the Market is heading. In this video I'm setting up a trading plan using Elliot waves to give me an idea of a potential trade for this week. I'm still learning Elliot waves and by no means an expert, but I'm really loving the process and really...
Es/ the upper end of the opening range is 3211 with the first lower level at 3196, but does not get bearish until first lower target is taken out at 2180. below that I have a few targets 3160, 3127, 3112, Even if all these targets are hit the big picture will still remain bullish. If we start running to higher levels have 3288 as up side target. So the opening...
ES I am not sure how many boxes I need to check to call a down move but lets say it is 6 boxes, yesterday checked one of them. This said the over night gives me 1/2 more boxes making me a very cautious trader looking for a bit of a down move. Watching 3099 and 3115 as my chop zone and a break above removes the box check marks. Most of the over night inventory is...
Today watch the red zone bottom to see if bears have any life at all, this could be a good bounce point. also a hard up bounce that rejects could also be a sign that short may have a hope today. The market has been very lazy/choppy during the day and is moving all at night so play very safe.
over night we had a selling distribution and a buying distribution leaving thing pretty even between the two. Looking at 3058 as the cross over between the two distros. Over all outlook is market remains bullish and so far is not putting in any sign of bears being present other than to give the market some squeezing lifts. So will watch for reason to get long as...
We remain in a big balanced area inside a bigger bull move, so today expect back and forth in a hard to predict manner until the balance zone is broken. Still looking for a signal that bears have any desire to get involved but so far all they have been able to provide us is some very sharp short squeezes. Wish there was more i can say but nothing has changed in...