ES Nice Pullbacks Create Buying Opportunities - Possible IH&S?
Updated
ES
Nice Pullbacks Create Buying Opportunities - Possible IH&S on the 1hr?
ES is having issues getting back above and holding the 786 @3134.75
SPY having issues at the 786 @313
If we can get above and hold those levels we could see a great buying opportunity for the rest of the week. If we cannot hold these levels I am looking to short to 3078
It is highly recommended that if you are long with stock or options to always have a hedge at times like these. IE: VXX, TVIX calls/SPY puts are great hedging opportunities. Also think about trading futures, the MES is a viable hedging option as well.
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This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
Nice Pullbacks Create Buying Opportunities - Possible IH&S on the 1hr?
ES is having issues getting back above and holding the 786 @3134.75
SPY having issues at the 786 @313
If we can get above and hold those levels we could see a great buying opportunity for the rest of the week. If we cannot hold these levels I am looking to short to 3078
It is highly recommended that if you are long with stock or options to always have a hedge at times like these. IE: VXX, TVIX calls/SPY puts are great hedging opportunities. Also think about trading futures, the MES is a viable hedging option as well.
____________________________________________
This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
Note
Note
ES caught the 200ema and held for a nice bounce and afterhours run up to the 100ema on the 15min/ 8ema on the 4hr. I expect a possible retest of the 100ema on the 4hr at 3073/200ema on the 10min.
BE CAREFUL HERE. I would not doubt a further drop to 2950-2930 area. On the daily that would put us on the 200ema and/or the 618fib retarce.
Plan accordingly, a small position to hedge longs is always an option. SPY puts, VXX, TVIX calls, and futures trading.
Good luck, happy trading and stay chill,
2degreez
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