We closed the day just 2 ticks from the open. That is the definition of consolidation! There was one setup to speak of and I think it was a pretty high probability one. The opening gap acted as a magnet to give the setup more conviction.
Although during the meat and potatoes of last week has been very choppy, with many gaps appearing in price action on the daily timeframe, ES has managed to reprice through the prior weeks buystops into a sellside imbalance buyside inefficiency located between 5123.25 - 5248.75.
I do not believe the buying pressure is over yet as just above the SIBI is a bearish...
Going over the price action for the DAy ES 4-29-24. market still in consolidation mode after thur/fri massive runs. looking for clues and how we could have traded better today.
I like this one, everything makes sense, plus s&p is my main trading ticker, everything is just adding up here, not to mention the divergence ... and to TP before hitting the end of that zone, idk might pierce bounce or etc. so 1:3.6 RR
** donations appreciated, look at my other trades on channel. very good win rate.
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The color zone is a sort of black box...
It seems that the It seems that the downward trend is still dominant and there is a higher probability of a decrease and there is a higher probability of a decrease
Trading Plan for Monday, April 29th, 2024
Market Sentiment: Bullish, following a multi-day rally. However, proceed with caution as a period of price discovery and more complex action is likely after the strong movement.
Key Supports
Immediate Supports: 5127 (major), 5117, 5102 (major), 5089 (major), 5082
Major Supports: 5068-72 (major), 5043 (major), 5034...
While technical have us in the daily trigger zone for a another bearish leg, I think future contracts and overall market sentiment is set to consolidate. There is some confusion amongst investors but, with a bearish bias overall. A break and close below a previous day low will help technical to begin a second leg.
There's always a price to pay!
This is the price of bailouts, debt, and free money...
House of Cards.
Escalator up...
Hellevator down...
Been trying to ChART this move since 2019.
It's so obvious it's coming.
Timing is the hardest part.
But this last pattern.
I don't see a way out.
Whoever wins this election gets blamed.
They may let Trump walk...
Here are my levels for this the coming week. ES had a sharp reversal last week bouncing 2.56% after trading down for 3 weeks in a row. Dispite the strong rally the risk of bearish continuation remains high. A rejection at the top of the red box could easily send price into a compound corrective move down to the 200 sma and the July 27th high. Much depends on the...
1.
Price swept a lot of low resistance
lows with this bearish impulse, and
created a new Swing Low. This is the
External move.
2.
Price retraced to the -FVG, a
premium PD Array. This is an
Internal Range Liquidity move.
Expecting price to wick up past
the PDH, but close inside the
-FVG, and potentially end the
retracement. Bearish PA should
follow.
Price is in...
Last Week :
Last week Globex opened inside the Value of 5086 - 4925 Range and right away found buying that started pushing us towards VAH. RTH gave us a push out of Value and holds above brought in more buyers to give us pushes to the Edge and attempts at Previous Ranges VAL/Value area but that move was sold back down towards the Edge and back under 5086 brought...
going over the weekly price action and then some ES. going to be doing this every few days going 1 day at a time and looking forward 1 week at a time. keep working hard and reflect. Pain + Reflection = Wisdom
In this video, we will discuss the potential targets for ES1!, NQ1!, and RTY1! in the upcoming week. The technical indicators I've used include Bollinger Bands (20,3), Beacon Indicator, 5-day SMA, and YTD AVWAP. The market environment has turned bullish again as I believe the short-term sell-off in market indexes is over. We are now back in bull mode, anticipating...
