ES is in an uptrend on the higher timeframe with positively correlated RSI - Higher Highs are producing higher RSIs allowing us to ride the trend. Take the retrace in a quality demand zone .
Target the opposing Supply Zone for a Set-and-Forget 3R profit or use a trailing stop if you will manage the trade actively.
Well, it looks like the Daily DP Resistance zone (that the ES hit on Nov. 9th) appears to be holding. The rally from the Nov. 10 low into the Nov 16 high appears to be corrective. This would indicate a continued decline to come. A weak Daily close below the Nov 10 low would be confirmation of this.
So let's watch the ES (US Stock Market) and see...
The Robert N. Burgess School of Analysis and Trading creates many advantages in trading. By "reading the tape," for all time frames / waves of buying and selling, a trader sees actionable changes in price action in 'real time,' which creates good “odds” for trades. Therefore a trader usually can get the ‘jump’ on other traders, before they become buyers or...
The week before the election. Will market's make a big move or wait until next week?
This week has a lot of information on the chart. I generally try to keep my chart's as simple as possible, focusing on major areas of support and resistance and trading based on price action/setup. I try my hardest to not let my bias drive my trading.
However, price is still...
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