We sold off from the 4106-4200 order block back in may, and since then /ES has found a bottom at $3639, and if 3639 holds /ES will be looking to retrace back to 4142.25 at a minimum.
I do see a change of character and demand areas that have developed, and patterns confirmed.
I would imagine that if $3941 does not hold we will go back to these demand zones and look for a bounce. The 4 hr zone at 3831.25 is a strong one since its both reflecting on the 4hr and 1 hr in different areas of that zone. In order for me to see that we’re rallying I would need to see a wick above 4016.25.
I do see a change of character and demand areas that have developed, and patterns confirmed.
I would imagine that if $3941 does not hold we will go back to these demand zones and look for a bounce. The 4 hr zone at 3831.25 is a strong one since its both reflecting on the 4hr and 1 hr in different areas of that zone. In order for me to see that we’re rallying I would need to see a wick above 4016.25.
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.