S&P500 - 0 To 5 Count seems to confirm the Short
In my previous post, I said that we have a short at hand in the SP500/ES.
1. ES Trigger Candle Bearish
That was before P0
2. ES has reached the TOP for now
That was at P3
In both postings price was not able to reach at least the Warning line (dashed white).
Now we have the 0 to 5 count confirming what happens when price trades below a Medianline, in this case the L-MLH where at P3 price banged it's head.
So, what now?
At P3 price was testing the L-MLH.
Now we will get a re-test at "P5 & Trun".
From there, another short is on the plate and I will load the boat probably on a intraday basis priceaction.
Is it possible that price will trade back into the Fork?
Sure, that happens now and then. And it could also this time. That's why we have to trade accordingly and use our Money/Risk management to protect our capital.
I'm in holiday, so there won't be as many updates as normally.
Trade save & t'care out there.
1. ES Trigger Candle Bearish
That was before P0
2. ES has reached the TOP for now
That was at P3
In both postings price was not able to reach at least the Warning line (dashed white).
Now we have the 0 to 5 count confirming what happens when price trades below a Medianline, in this case the L-MLH where at P3 price banged it's head.
So, what now?
At P3 price was testing the L-MLH.
Now we will get a re-test at "P5 & Trun".
From there, another short is on the plate and I will load the boat probably on a intraday basis priceaction.
Is it possible that price will trade back into the Fork?
Sure, that happens now and then. And it could also this time. That's why we have to trade accordingly and use our Money/Risk management to protect our capital.
I'm in holiday, so there won't be as many updates as normally.
Trade save & t'care out there.
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