Caution if 2497 bear zone holds as there's more risk to downside as price is still hovering in a susceptible area. The more probable scenario though would be an upside breakthrough considering the trend. This slow grind higher will eventually setup a sale but for now we must respect the wave.
Nervous about playing long OR short side aggressively today based on where price is currently lining up. Would like to see another strong push up, which would be a nice fade set up. Too aggressive on the long side can end up slapping you in your face. Let the market either entice the late bulls to bid us up higher, or let a flush clear the way for a Buy. Long...
Price wants that 2500. Nice, round number. Super attractive. Some shorts have been stopped out. There are more that need to be burnt. This is a trending market at the moment but I'm ready to fade it in the next day or two. I suspect we break through 2500 and find a reversal trade above that level. Long scalps will likely be winning formula again today.
Got that 2475 print finally. Now anything can happen. Either direction breakout of the holding zone should guide price. Thinking dip buyers will be found though if we trade low enough. Buy stops rest a little higher so be on the right side of the market if those get hit.
Earlier, I found a pattern with a 1:1 risk/reward ratio on the long side.
You can search for it if you like, just don't forget to rub some salt in those open wounds.
Trade what you see; that's my motto. I went long, only to be stopped out.
Ya pays yer money, and ya takes yer chances. Them's the breaks.
But the lesser charts reveal a slow grind to the upside on...
Hi everyone, sorry for slow ideals presented. I was taking a break myself, after bouts of O.T trading.
Ok, so coming back to the market in Asia time, i am doing my usual analysis on ES and found 2 ways
to trade it. After the recent low has been form, ES is now consolidating.. I don't want to try predict
will it form a new multi year high, or it will be of a longer...
Sep E-Mini S&P just broke an internal peak at 2474.00 as seen on this lesser chart. Harmonic analysis shows even odds that the futures will exceed the old all-time high of 2487.50.
Are there any bears left? I'm not convinced this is a classic short squeeze, but the remaining ones seem to have fled or are exhausted.
Everyone is a bull at this point, blinded by...
Synopsis of the week so far: NK missile lower gap open shrugged off, rebound rally continued with jobs rally going into NFP...2467 must be touched. It's our price magnet and so close. May it be today or tomorrow. Wouldn't be a bad gamble to take a short there if we get it today as it represents a reflection point. Tomorrow would be another story (depending on what...
If you are watching ES, it is good for a short trade following yesterday's rally. If you miss the entry,
don't chase. Wait for 5 min to rally up then aim to short nearer to my entry where you at least get
1:1 risk to reward.
The mighty E-S just shakes anything off. Beautiful recovery yesterday. Bulls need to get through this Holding Zone though. Inability to do so can bring some bears back into the picture but buying any dip might be the play. Triple tops/bottoms don't have high % of holding. Advantage still to the Bulls.
Let it be known I would NEVER consider shorting the S&P Index unless I had lower lowes.
On the daily I've got lower lows and lower highs. This market should be ready to give us 60 ticks. Which on a single futures contract is $12.50 a tick.
Entry 2240.00 Notice how the gap to the downside will be filled right when we take entry.
Stop loss (SET...
Asia and Europe lower overnight due to "news". No rebound overnight might bring in the buyers at the NY cash open. A lot of magnetism power coming from 2408. If we get to overnight low print again, a Long might be a gamble. Fading the holding zone is an even bigger gamble. Risk at both ends. Instinct tells me higher though today.
This presents a good setup if ES forms a lower high, higher low on the 1 hour.
As of this moment, we do not know the extend of how much the pullback will be.
Instead of trying to guess, i'd let the market trade into the bearish structure.
The gap distance is from 2443.5 to 2436 and 2436 which was once my profit
taking target would naturally become a selling entry.