Short ES on Absorption at 5536
Updated
With 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.
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.
Trade closed: stop reached
This was a generally on-target idea, but I targeted the wrong section of liquidity. Had we targeted the upper section of resting liquidity around 5545 then this would have played out nicely. We'll try again!
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