Here we have ES Futures in the third level of rise with a possible half batman pattern setting up with congruence of slowing momentum on the MACD. Even though today was a bear trap. Tomorow is a Bull trap. I am anticipating a break of this up channel to retest the lows. We have barely been hovering above the 200 quite weakly in fact. The market does things in three's. 3 levels of rise, 3 drives to the high, 3 pushes.
The past couple of days only have shown a marginal new high, peek a boo and rolled over. Not very convincing of a bull run. Where are the bull's conviction's. Why is there selling pressure here at the weekly supply zone at 0.618 fib retracement?
The past couple of days only have shown a marginal new high, peek a boo and rolled over. Not very convincing of a bull run. Where are the bull's conviction's. Why is there selling pressure here at the weekly supply zone at 0.618 fib retracement?
Note
I will be looking for a short entry in the 3875-3900 region AFTER it has broken the up channel and consolidating sideways. Note
I am expecting a day or so of range activity before the sellNote
On the micro level of the 15-minute charts, we have the same 3 levels and 3 pushes occurring.Note
Broken down on today's session, we have the same three levels of rise
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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.