ES Price Action review for the Day 6-25-24Going over the RTH session ES looking for clues and how we could have traded better and how to position for tomorrow.
WSP1! trade ideas
S&P Mini Very Interesting PatternAll the noise about rates and inflation has been confusing to every long term investor.
This S&P mini chart pattern developing is very Interesting.
It has multiple defining patterns.
#1 it is now in a down turn and must convincing break above the downturn line to turn bullish shown
Or
#2 If it bounces off downturn line and drops from here it would create a potential Head and Shoulder bottom also could be bullish assuming it does not make new lows
or
#3 If it bounces off downturn line and sets new low it would be signal we have more on the decline or Bearish
The time has finally arrived when chartist like me will final see a new trend bullish or a continued bearish trend.
ES levels and targets todayCME_MINI:ES1! 5519 has been the most important levels for the past 3 trading sessions. For today though, 5519 is support currently after reclaiming. Buyers staying above it keeps 5531-32, 5542, 5557 in play. 5519 ever fails, we dip back to 5512-09.
Over Night ES price ACtion review 6-25-24Reviewing the Over Night Price Action ES looking for clues as to how to position for today. 3 days down possible bounce zone ahead. looking for A+ setups only.
SPDR Spy 0624 eod Symmetrical TriangleSymmetrical Triangles Explained
A symmetrical triangle chart pattern is a period of consolidation before the price is forced to break out or down. A breakdown from the lower trend line marks the start of a new bearish trend, while a breakout from the upper trend line indicates the beginning of a new bullish trend.
Tomorrow we could head down toward the 20day ma.
Market Recap: You Could've Made 15R Today, Here Is How!Such a great trading day today. I was wish I was feeling well enough to have traded this morning. A ton of setups providing great entries with great risk to reward.
AMP Futures - Trailing stopIn this video we will demonstrate how to use the trailing stop with TradingView.
Navigating Today's Market Trends: How to Read the Signs Indices Futures
Let's start with the indices futures. Gravity is pulling towards the rising trendline, which is a healthy move for the market and its indicators. The RSI for the NASDAQ on the daily chart was over 82, a level not seen since January 23, 2018. Similarly, the SP500 futures are taking a short pause, much like in March 2024. It's moving clearly within a rising wedge, needing to bounce off the ascending trendline to continue its upward trajectory.
Trade Ideas for ESES had a fakeout above this descending channel it has been trading in, which I see as quite bearish. It's back near the bottom end now, a break below would not only be a short term pattern as shown here breaking, but also a longer term trendline as well. I would expect more downside if it does break and vice versa.
Can sellers maintain the momentum?Can sellers maintain the momentum to the downside and the S&P 500 that started on Monday? We are approaching levels that buyers may return to the market. The overall bias for this index is to the upside.
2024-06-24 - priceactiontds - daily update - sp500 e-miniGood Evening and I hope you are well.
sp500 e-mini futures
comment: Expanding triangle on the 1h tf and that’s a form of a trading range. Big up, big down, big confusion, more sideways likely. 5530 is the most important price currently at about the middle of the range. Did the bears do enough damage today to expect follow through tomorrow? I don’t think so. They barely made another lower low. Selling down here is a bad trade.
current market cycle: Max bullishness & peak bubble territory. Literally the peakiest of the peaks. Mother of all bubbles. Will end over the next weeks. —unchanged
key levels: 5500 - 5600
bull case: Bulls tried and failed at 5558 which qualifies as a decent lower high. Bulls need to stop the selling above 5500 or risk trading back down to the daily ema around 5460. They still see this as a minor pullback in the huge bull trend. Their problem is, that bears printed 3 consecutive bear bars now and broke the first bull trend line. It’s a bad buy here unless they get strong momentum going tomorrow.
Invalidation is below 5500.
bear case: Bears doing good and trapping overly eager bulls in buying everything but the selling is not strong enough to question another retest of the highs. Until bears trade below the daily ema, they will be quick to exit shorts that lose momentum. Their next target is 5500 and then 5470, where we should hit the daily ema. If they also somehow manage to get below that level, the bull trend line will be tested next - around 5420ish.
Invalidation is above 5560.
short term: Neutral between 5500 - 5540, bullish above and bearish below
medium-long term: Bearish. We will see 5000 over the next weeks again and 4600 over the next 12 months. Will update this time and price wise over the weekend but I expect to at least see 5000 over the next months in 2024. —updated weeks to months.
current swing trade: None
trade of the day: Strong buying on bar 36 which was a decent buy since bears could not get below 5525. Triangle bar 37-47 and bar 48 was a good entry bar for shorts. Strong break below the triangle with follow through. Could have closed shorts on bar 56/57 because 4 consecutive bull bars but they had big tails above. If you held, could have been 100+ points.
Small Account Challenge Daily RecapGreen day for the challenge account today, but small. I'll have to build up slowly now after the recent drawdown. I can do it, just need to remain patient and manage risk. The Nasdaq is looking quite bearish to me after today, but can definitely bounce back tomorrow. We'll see how it plays out.
OHLC Stat Mapping Cooks Every Day & Every Week and it won't stopOn ES OHLC STAT MAPPING Cooked as Always! Do you see that precision? that is hilarious and definetely not random... just checkout my profile and see how many examples I have there with this insane tool. forever grateful I discovered this tool.
Thoughts on ES outlook after structure flipRecent trade closed fully at TP!
15m structure bullish flip, suggesting it might be looking to make way towards the 1h swing high. Keeping in mind the possibility of further rebalancing to the downside before a continuation upwards. I’m not looking to enter with the current PA. There was a bearish internal flip fulfilling the 15m swing pullback. I’d wait for a bullish flip to confirm an entry to the upside.
Short ES on Absorption at 5536With the selloff at the beginning of trading Sunday night June 23rd, ES is at risk of the "three bar reversal". I think ES will need some work to find a bottom before pushing higher.
There is a large block of resting liquidity after the selloff between 5532-5536. I am playing an Absorption Reversal after that liquidity is grabbed back to the downside. Stop loss is at 5540, take profit at 5526 for a 2:1 RR.
$ES get ready for a bounceYou really are going to want to wait until these prices;
5512.75 -5509.50
5503. 25
5495.00
100% expect at least 8 tick bounce
ES Morning UpdateAll Friday in CME_MINI:ES1! , I posted about 1 support level…5519. We held it to the tick Friday. We retested last night exactly again, and bounced. Lock in overnight gains if you have them
As of now: No changes from Friday .5528-29, 5519 (weak) are supports and must keep holding to keep 5542, 5560 in play. 5519 fails, sell to 5509
S&P 500: One last ClimbWe see the S&P 500 primarily on the last few meters of the magenta wave (1). Although it is of course absolutely possible that we have already seen the high, the price is likely to rebound once more before it brings this movement to an end. Subsequently, we expect a medium-sized correction in the form of the magenta wave (2), which should extend to our same-colored Target Zone between 4851 and 4678 points.
ES1! morning updateLots of ways to interpret price action off low of 4963.50. This count interprets price movement as a regular flat.
From low of 4963.50, there are two impulse waves (red and orange ellipses) with correction in between forming the ((A))followed by a correction (yellow ellipse) forming the ((B)).
From 5022.25, you have a large five-wave structure forming the ((C)).
The contract change (green ellipse) adds a wrinkle in interpreting the count of wave (5) of ((C)).
Regardless of how you count this, I think that price will most likely find its way towards the 5000 level again, and either bounce off it (bulls) or continue past it (bears).
Overnight ES Price Analysis 6-24-24Going over Price Action ES sunday night to Monday morning. looking for clues and setting up our game plan.
