Going over todays price action. looking for clues to what the market was telling us and reflecting on our trades and what we could have done better.
ES has just opened and I believe we could continue up to truly close the 2HR FVG at 5257. So far we are making continuous bullish candlestick patterns. If we can maintain support at 5234, we can test the upside before retracing back down to 5220.
I think we will go back down and test the 4960 area. We have broken the short term Up angle today in one swoop. RED UMVD has appeared after divergence as well. FED Day today - get ready for some serious moves.
ES has broken above a bearish ascending wedge pattern on the 4hr. It failed to sustain above yesterday, but has recovered today so far. If it manages to keep going, I'll be looking to long on any pullbacks that tap the top end of the wedge.
Bullish count on left, bearish count on right. Lots of gymnastics on the left, but it is still just a series of impulse waves up, with key higher low pivots held. There are different ways to interpret these impulse waves collectively, and the one I have chosen would get one complete impulse wave off low of 4963.50 to happen the quickest. Key price support at...
I'd expect ES to be relatively flat after we didn't get much of a reaction to jobless claims. It's been chopping for several days and I have no reason to believe it will break today, but if it does breakout here are some paths.
Trading Plan for Thursday, May 9th, 2024 Market Sentiment: Bullish, but with increasing uncertainty as the market enters a consolidation phase. Expect choppy trading within a defined range. Prioritize patience and focus on level-to-level scalping for small gains. Key Supports Immediate Supports: 5203, 5194 (major) Major Supports: 5177 (major), 5155 (major),...
BLUE SKIES Would you have believed it If you were told a year ago. When every expert was predicting a recession. (which will come of course but when no one is expecting it ) So the conditions are set for a melt up I believe #Bitcoin bottoms very shortly maybe this week or next (grab some bitcoin miners!) ENJOY THE NEXT few months! #CNBC will trumpeting SOFT...
Market Observations: The S&P 500 futures NYSE:ES and S&P 500 ETF AMEX:SPY have consolidated with low volume over the past two days. Trading Strategy: Given the current range-bound price action, I am not actively seeking trades around the 5200-5210 level. Instead, I am looking for a breakout from this range accompanied by increased volume to establish a...
Going over the price action overnight ES looking for clues as to what the market is telling us and thinking about our trade plan for the day.
Secondo la view del Trader professionista, le quotazioni del future su S&P 500 sono da mantenersi ad un livello di 5.220 punti. In questo caso, il primo obiettivo dei compratori potrebbe essere localizzato a 5.275 punti, mentre un target più ambizioso in area di massimi a 5.320 punti. Si continua a ruotare attorno a quest'area: le zone alte di vendita sono in area...
The structure in the S&P 500 for the last couple of days is actually a neutral zone trade which implies a sideways move however the structure on Wednesday implies a bias for moved to the upside on Thursday.
going over Price Action for the Day Session looking for clues as to what the market is telling us. always know where you'll get out if you're wrong and remember we are risk managers first. that is our most important job.
Going over the Price action ES Morning session looking for clues as to how we could have traded it better. spending the time to reflect so we can gain Wisdom. Do the Hard Work. Pain + Reflection = Wisdom
Got stupid overbought and only a small dip today. I'll just wait it out and see if it cycles to oversold. Decided to relocate so I've been busy trying to finish up projects at home. Don't really have time to watch the market.
Last Week : Last week we opened up around the Mean of 5182.50 - 5115.75 Value. Consolidated around the Mean, built up supply and eventually started moving for the Spike Base, lower Edge and lower ranges VAH to fill those areas out but every time we hit VAH we found a bid there which would hold us over and that would bring in new buying to keep pushing us back...
Trading Plan for Wednesday, May 8th, 2024 Market Sentiment: Bullish, but increasingly cautious in the overbought market. Consolidation is ongoing, and a deeper pullback is likely before further advances. Maintain disciplined risk management. Key Supports Immediate Supports: 5209 (major), 5202, 5188-91 (major) Major Supports: 5143-36 (major), 5067-69...
this chart is for my friend who is new and needs a clean looking chart, so this id for you kingkji