Apex Lyfe + Ascending Trrri This will feel like alot, so, drop that addy and lets go! 👻
The Bullish case:
1D chart on ES with upside channel and price floating in apex of ascending tri (yellow rt / st). Quick glance looks bullish with 15 and 30 hma pushing up (if not expanding). If it plays out and rolls upside -- gap above (light blue square) will be gen pop target. Pause at 3308 before baby dip and push to 3340 to close gap. At that point, we'd be about a day's ATR from ATH so put ur shorts away and yolo for the homies.
The Bearish Case:
Despite the upside channel, ascending tri, and hma seemingly extending upside... we have the Di+ on DMI giving cause for caution. At minimum you would expect at flat level to match the RT on that ascending tri, but instead, we have down a slope on buying pressure, and although Di- is registering at scrubsicle levels with 10.555, it's not like Di+ at 26.333 is 2 Chainz ballin' out with a diamond grill. If selling pressure gets super moto, Di- will push above Di+, and we'll be in bear cross status. It should be noted that next cycle in HMA's would also be a bear cross. At time of posting, 15 HMA (blue @ 3206) is only 36pts above 30 HMA (white @3170). 200hma is downside @ 2923... feels deep, right? Whatevs, targets downside @ 3182, 3142, 3120, 3080 are legit valid AND well within weekly ATR of 149, if ( and it's a big 'if') ES breaks down and out of ascending tri and upside channel.
Further targets listed downside (aka saucy fap material for bears) noted at 3023, 3004, 2936, etc.
Break below floating support of upside channel (the purplish st) and/or 200hma is your signal to flex that costco membership and get ur prepper on.
Trade the range.
Appreciate the risk.
