Short ES from 5540
ES had a strong rejection from all-time highs on Friday's session. Given that reaction, I think we need to find a value area low before reaching for new highs again. There is large resting liquidity in the 5543-5545 area. My hypothesis is that we'll touch the low 5540's before heading back down in Monday's session.
Setting a sell limit order at 5540 with a stop loss at 5546 if that liquidity is breached. Looking to take profit near Friday's lows.
Setting a sell limit order at 5540 with a stop loss at 5546 if that liquidity is breached. Looking to take profit near Friday's lows.
Disclaimer
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.