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ES / SPY In A Correction Phase After A Measured MoveThree weeks prior, the market completed a bullish leg measured move. This pattern is significant as markets often exhibit a tendency to move in pairs, a phenomenon observable across all time frames. This behavior is rooted in the psychological aspects of market dynamics, wherein the market tends to repeat actions twice. This concept is underscored by market geometry, which includes two-legged pullbacks, measured moves, second entries, among others. The market recently reached 5256, a likely target for many traders, followed by the formation of an inside bar. This development has led to a three-week consolidation phase for ES as it assimilates the previous move before potentially initiating another. The bullish outlook remains intact as long as the price holds above 5126 on the weekly timeframe. The upcoming FOMC meeting adds an additional layer of significance to these levels, as they will likely determine whether a higher timeframe pullback ensues or if the current trend continues.
CME_MINI:ES1!
by AmpedTrading
ES 4H Analysis ES experienced a remarkable surge in the past week. However, we've returned to the crucial breakout and retest range of 4400-4430. For the rally to persist, it would be ideal for ES to have a moderate retracement and maintain demand in the vicinity of 4325-4340. While the price might continue its upward trajectory without a pullback, a measured retracement would be a positive sign. It's essential to remember that we remain in a declining channel and are approaching a vital zone characterized by the breakout, retest, and trendline resistance. Anticipate inconsistent and sluggish price movements (cooling period) before either a continuation or a reversal. Key levels to monitor: Resistance: 4400-4430 Support: 4325-4340
CME_MINI:ES1!
by AmpedTrading
ES Bull Flagging into 4400ES Hourly Analysis - Bull Flagging into 4400 Price action was quite choppy today and was hard to read. When that happens, it's best to just step away and let price paint a picture for you over a period of time until the direction is clear. That is exactly what ES has started to do. On the 2-5 minute chart this looks like a mess, on the hourly, it's painted a beautiful picture. It is showing us that ES can not close 4400 and that any time it dips below, buyers keep stepping in. 4400 has become the battle field. We are basing/consolidating for a big move, which is expected due to this being a volatile week. While we are in a volatile week once earnings start to report, and with current world news, don't swing for the fences when entering trades. Keep it logical. Supports: 4400, 4390, 4375. Resistance: 4410, 4415, 4425.
CME_MINI:ESZ2023Long
by AmpedTrading
ES - Bullish Analysis Quick ES Daily Analysis - Bullish/Neutral - Building 4 Hour Bull Flag into a Break and Retest Thursday & Friday we saw a nice rejection off of 4430's backtest. Now we are at a recent break and retest level of 4340-4350 that was resistance for about 3 days from 28 Sep - 02 Oct. I'd say if we want to see more upside, this is where bulls need to hold in order to break above 4430's resistance. We are also sort of building a 4 hour bull flag into this level. We could very well dip back down into the weekly demand of 4265, but on Monday, depending on how ES's overnight acts, I'll be looking for longs in this area. If we break below this retest zone, ES could put 4300 back in play for the shorts (from a daily analysis standpoint).
CME_MINI:ES1!Long
by AmpedTrading
Weekly Plan ES Futures ESZ2023 10/9.10/9 Weekly Plan. ES Futures December ESZ2023. Weekly Pivot is 4,350 Targets 4,448 9/20 gap top + prior 4Wk balance HB + 50% ext of 10D balance zone 4,494 prior 2 months balance hb + prior 5 Days balance low 4527 weekly vPOC from 9/11 Targets 4,314 10D balance zone half back 4,256 unfilled opening range dominator from 6/2 4,229 untested spike from 5/24 + 50% ext of 10D balance zone Now trading at 4,314 ESZ Alerts: You will receive alerts in this channel every time ES hits (2M candle close): Weekly opening 4,315. Weekly pivot at 4,450 Each weekly target. Side notes: Prior 2 months balance zone is H4,633, HB4,494, L4,350. Current 10D balance zone is: H4380 / L4351.25 /HB4315.5 When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan.
CME_MINI:ES1!
by dhjesus
ES Weekly PlanTwo important levels for ES this week. 4300 and 4350. On the hourly chart the downtrend is still at play, but we have put in two higher highs, and three higher lows, which could be indicating a trend reversal to the upside. But taking any long position into 4350 is extremely risky, until we can clear it. Also pictured is ES's 10k tick chart, which typically is a better trend indicator. We broke the downtrend (teal line) and have successfully back tested the downtrend ~3 times while also creating a new uptrend. It shouldn't be surprising to see chop and tight price action after so many trending days, but these are the levels I'll be watching for ES. I'll take long near 4300 and shorts near 4350 until price says otherwise. Listed are my long targets, and any shorts from supply will only be a few point scalps since it seems we are forming a reversal. Any short positions below 4300 could be sketch since daily demand is 4310-4270 (we could find support anywhere in that range).
CME_MINI:ESZ2023Long
by AmpedTrading
ES Hourly - Back to Uptrend?Hourly analysis - Start of trend continuation? For the first time since 15 Sept - ES has broken above an hourly supply level and swing high while also defending 4335's breakout level. This could very well be a trap or the start of a relief rally/continuation of the 11-month uptrend. Levels to watch: 4420: This was ES's support 4-5 times before breaking down to these lows. We could backtest this level as a break and retest. 4375-4365: This is ES's new 1-hour demand zone where price broke through overnight highs and the previous one-hour supply. This is a good area to try longs, and to want ES to stay above. If we break back below, 4335 - 4310 at play.
CME_MINI:ES1!Long
by AmpedTrading
ES Daily AnalysisES is at the very bottom of it's daily demand zone which was tested 18 August for a 195 point move before continuing lower. while we are also near it's breakout level of 4335. If we break below the daily demand and can not reclaim, I do see us making a move to the levels below. If we see demand step back in here for a relief bounce, I could see a target of 4420 being realistic as it was previous support before making the move lower to test the breakout level or breakout demand zone. Thoughts?
CME_MINI:ES1!
by AmpedTrading
Weekly Plan ES Futures May 22nd05/22 Weekly Plan. ES Futures June Weekly Pivot is 4,194 Targets 4,240 4,260 4,300 Targets 4,172 4,137 4,114 Now trading at 4,209 Alerts You will receive alerts in this channel every time ES hits (2M candle close): Weekly opening 4,208.50 Weekly pivot at 4,194 Each weekly target. Side notes: One time framing up OTFU in all timeframes. Keep notes below handy in case ES breaks down. Daily ends at 4191.50, weekly ends at 4122.50 Balancing in daily timeframe. H4169.5, L4111.5, HB4114. Balancing in weekly timeframe. H4206, L4,062, HB 4,134 Balance in monthly timeframe. H4208, L3814, HB4020. When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan. Have a great week and trade safe.
CME_MINI:ES1!
by dhjesus
Weekly Plan ES Futures 5.8Similar plan to last week's. 05/08 Weekly Plan. ES Futures June Weekly Pivot is 4,150 Targets 1. 4,188 2. 4,220 3. 4,240 Targets 1. 4,114 2. 4,090 3. 4,061 Now trading at 4,158 Alerts You will receive alerts in this channel every time ES hits (2M candle close): 1. Weekly opening 4,151 2. Weekly pivot at 4,150 3. Each weekly target. Side notes: 1. Balancing in daily timeframe. H4167, L4962.25, HB4114. 2. Balancing in weekly timeframe. H4206, L4,062, HB 4,134 3. Balance in monthly timeframe. H4208, L3814, HB4020. 4. When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan. Have a great week and trade safe. @everyone
CME_MINI:ES1!
by dhjesus
Weekly Plan Es Futures 5/0105/01 Weekly Plan. ES Futures June Weekly Pivot is 4,150 Targets 1. 4,188 2. 4,220 3. 4,240 Targets 1. 4,114 2. 4,090 3. 4,061 Now trading at 4,190 Alerts You will receive alerts in this channel every time ES hits (2M candle close): 1. Weekly opening 4,190 2. Weekly pivot at 4,150 3. Each weekly target. **Side notes: ** 1. OTFU in daily timeframe. Ends at 4,153.75 2. Balancing in weekly timeframe. H4,194.75, L4,068.50, HB 4,131. 3. Balance in monthly timeframe. H4208, L3814, HB4020. 4. When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan. Have a great week and trade safe. @everyone (edited)
CME_MINI:ES1!
by dhjesus
Weekly Plan Recap 4-2804/24 Weekly Plan. ES Futures June Weekly Pivot is 4,140 Targets 1. 4,188 2. 4,220 3. 4,240 Targets 1. 4,114 2. 4,090 3. 4,061 Now trading at 4,152 Alerts You will receive alerts in this channel every time ES hits (2M candle close): 1. Weekly opening 4,150 2. Weekly pivot at 4,140 3. Each weekly target. Side notes: 1. OTFD in daily timeframe. Ends at 4,161 2. OTFU in weekly timeframe, ends at 4135. 3. Balance in monthly timeframe. H4208, L3814, HB4020. 4. When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan. Have a great week and trade safe. @everyone (edited)
CME_MINI:ES1!
by dhjesus
Weekly Plan ES Futures 4-2404/24 Weekly Plan. ES Futures June Weekly Pivot is 4,140 Targets 1. 4,188 2. 4,220 3. 4,240 Targets 1. 4,114 2. 4,090 3. 4,061 Now trading at 4,152 Alerts You will receive alerts in this channel every time ES hits (2M candle close): 1. Weekly opening 4,150 2. Weekly pivot at 4,140 3. Each weekly target. Side notes: 1. OTFD in daily timeframe. Ends at 4,161 2. OTFU in weekly timeframe, ends at 4135. 3. Balance in monthly timeframe. H4208, L3814, HB4020. 4. When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan. Have a great week and trade safe. @everyone
CME_MINI:ES1!
by dhjesus