ES FuturesThe 3 Star ✨ pattern on the Daily chart shows us the possibility of ending upward momentum and the beginning of a new downtrend.
Es1shortsetup
E-mini S&P500 intradayHello traders,
The E-Mini S&P500 future has marked a high volume with that special candle. We expect an increasing trend right now. It will try to increase in order to reach the resistance R0. If it breaks R0 it will try to reach R1.
But if it can’t reach R0, we should wait that first red volume and candle to sell and take profit.
ES1 (S&P500 futures) just topped out!Just happened minutes ago, the topping pattern of a High, Low, Lower High, Lower Low, Lower High, and then a Lower Low just completed and then it gave up and did a huge Markdown.
MACD has given an earlier indication of a drop, after pattern completion.
THIS IS a topping pattern, and it is of high probability that the S&P500 topped out.
Now waiting for it to continue the downward momentum and break the trend line support. But not before a rather lame attempt on daily charts next week to recover somewhat and reverse down again.
Watch for it...
S&P 500 Short 90 Index PointsHello Traders,
A rising wedge can be seen in ES1! (S&P 500) and I believe that it needs to make a correction so a breakout to the downside is to be expected. There may be another upside move and for that reason, a 30-point stop loss was set along with a 90-point take profit just around an identified key level. Furthermore, this trade idea supports our XAUUSD (Gold) long trade which stop loss will be updated in a moment.
Cheers!
Riverfront Capital
