At the beginning of the week, $ES_F established few trendlines creating a big probability for the start of the megaphone pattern, and we rocked it in the previous idea: 
We will be looking at the bottom of the BB channel and allow it to extend a little bit to the downside whereas we know MMs like to kill stop-loss positions before bumping futures back into the game.
Watch the levels around 3690 for the long position until mid-bb or a little bit above it to the previous Fib column which yet still in play.
Also, be aware of rising VIX which can incur some down-pressure to the equities, however yet Fed promised to buy as long as investors are at risk.
Invalidation probably at 3670, however practical bottom 3640
We will be looking at the bottom of the BB channel and allow it to extend a little bit to the downside whereas we know MMs like to kill stop-loss positions before bumping futures back into the game.
Watch the levels around 3690 for the long position until mid-bb or a little bit above it to the previous Fib column which yet still in play.
Also, be aware of rising VIX which can incur some down-pressure to the equities, however yet Fed promised to buy as long as investors are at risk.
Invalidation probably at 3670, however practical bottom 3640
Note
Zoom out and we find that 3HR BB can provide us with some bottom for the dip if it will come with the London sessionNote
Currently bouncing of 2HR Bollinger, next is or range trade or 3H Bollinger with a trendline.I would expect a push lower where the dip can be bought.
Note
Closer to target, 3690 - 3680 for buy
Note
Target printed, need to hold for taking it to the mid-BB channel
Note
Target 1 reached for the trade, basically above the mid-BB is where the things can get shaky, and probably will.
Congrats to all followers for the Idea, we rocked this one
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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.