Market is going to crash, we are in wave 1 of impulse down and it is a leading diagonal So far we are in wave 4 of this leading diagonal. Leading diagonals are followed by a strong impulse so expect fireworks in late march.
Overnight buyers , in the S+P 500 March Futures
seemed to have gotten a little ahead of themselves,...
turning themselves into sitting ducks, when larger "no you don't dare go there"
sellers reversed their advance, as nighttime turned to day this morning
and with that, the buyers first encroachement of the 2800 area.
I view 2800 in S+P Futures as "the 'Major...
S+P Futures ES Basis March 2019 are banded by a tightening
indecision pennant on the Weekly Chart, for RTH; Real Trading Hours.
Very important Weekly Resistance is at exactly ES 2700,
while Very Important Weekly Support on the pennant is at exactly Es 2670.
I cannot stress the importance enough of these two levels
in trading for Friday Feb.8, 2019
Short Position (EP) : 2677.75
Stop Loss (SL) : 2689.75
Take Profit (TP) : 2653.75
ESH2019 formed Turtle Soup Sell at 1d time frame. Trade setup with Sell Stop at 0.382 Level (2677.75) and place stop after 0.618 level (2689.75). Once the position was hit, place take profit before an agreement (2653.75)
Long Position (EP) : 2652.75
Stop Loss (SL) : 2637.5
Take Profit (TP) : 2700.5, 2730
ESH2019 formed Double Repo Failure Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (2652.75) and place stop after 0.618 level (2637.5). Once the position was hit, place take profit before an agreement (2700.5) and 2730
S+P Futures ES Technical Pattern is a Very Bearish Setup.
Head and Shoulder's formation, with a clear dome resistance structure.
If one wishes to enter "long" into the trade,
then,.. this is the pattern that one is being given to buy into.
It's hard to see how this is going to end well,
for those who take the...
Short Position (EP) : 2637.5
Stop Loss (SL) : 2652.75
Take Profit (TP) : 2576.25
ESH2019 formed Double Repo Sell at 1d time frame. Trade setup with Sell Stop at 0.382 Level (2637.5) and place stop after 0.618 level (2652.75). Once the position was hit, place take profit before an agreement (2576.25)
ES bull run really looking long in the tooth. Has clearly formed 5 waves and starting to print long wicks up top.
Will be watching for a way to short in the wick area with a target back in the value area below the POC.
Mainly looking for a double or triple top for the entry. It did print a lot of volume during the 5th wave so it will probably chop around a bit...