We see that the CL is in strong trend and see the breakout of balance also. And now you can buy CL at border of minicosolidation "Buy1" (69.9) with "Stop1" or wait when the price will retest the border of the balance "Buy2" (69.32) with stop under the middle level of the balance (68.12)
The price approaches to the lower balance level (2533.25). And now we can try to buy from the lower balance level (2533.25) or wait for the false breakdown and then to buy from the lower balance level with stop under false breakdown
We saw a false breakout of the balance. For now we can wait for the retest of higher balance level and sell at 65.58 with stop 66.57
The target is the middle level of the balance (62.63 - target1) or the lower balance leve (59.09 - target2)
The price returned back to the higher balance level (65.2) and rebounded off it. We can sell at point of "Sell" - 64.8 with stop at 65.85. But if the price will consolidate near the higher balance level (65.2) we need to close position
We saw a false breakout of the balance and the price returned back into the balance
For now we can wait for the retest of higher balance level and sell at 2785 with stop 2803,75
The target is the middle level of the balance (2733) or the low level of the balance (2696.75)
We saw a false breakdown of the balance and the price returned back into the balance (2722.5)
For now we have 2 options for buy position:
1. Aggressive option - we can buy at point buy1 with stop1
2. Conservative option - we can wait for the retest of lower balance level and buy at point buy2 with stop2
The target is the high level of the balance (2753)
On ES the price breakout wide consolidation in the previous trend direction. Now the price returned back to the breakout point (retest).
If the price will holds above 2753.25 (high level of the balance) we will buy (option 1). But if the price goes below the middle of the balance (2722.5) we will sell it (option 2).
There are 2 options in this case:
1. Trade from the balance level in the previous trend direction. (previous - down trend)
2. Trade after consolidation will be break up/down.
1. Sell after balance high level will be false broken.
2. Waiting for balance will go down then we'll sell it on correction to balance level.
GC is flatting between levels 1324.4 - 1318.9. And this levels are POC of last days. We can sell or buy GC on border of flat:
sell1 - 1324.4
stop1 - 1327.2
target1 - 1318.9
buy2 - 1318.9
stop2 - 1316.3
target2 - 1324.4