ES Futures

The Primary trend is loosing steam but one must trade with the trend until it reverse, they usually reverse on levels of Supply or Demand, Support or resistance, or significant levels of confluence. In this case we are in an ATH, therefore an extension is necessary to indicate where price may go. Primary trend is still up and with Fridays close above the ATH the trend should continue to go higher into the levels of extension displayed on the daily chart. Primary trend could go as high as 4546 coming Monday and if it does could pause and take a break at that 78.6 level of extension before it gets enough oxygen to continue its impulsive move to the 100%-127.2% extension. In order for this trend to show some signs of reversing it must first extent to at minimum the 78.6% extension and then revert back to its level of imbalance around 4476.50. Always pay attention to the evidence of changing circumstances. As of this writing the ES is bullish and should continue higher, wait for a minor pullback to join rest of the impulsive move to its extension percentages.

ENTRY : 4481
STOP: 4461
TARGET 1 : 4546
TARGET 2 : 4600
TARGET 3: 4665

aramBull_Bearnando

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