ES is at the very bottom of it's daily demand zone which was tested 18 August for a 195 point move before continuing lower. while we are also near it's breakout level of 4335. If we break below the daily demand and can not reclaim, I do see us making a move to the levels below. If we see demand step back in here for a relief bounce, I could see a target of 4420...
GOOGL seeing support at it's daily demand zone from where price broke it's previous swing highs. Entry: If we continue seeing $130 hold, could be a good entry for minimal risk and a good R:R. Stop Loss: $129 Profit Target: $136 (below daily supply)
AMD falling wedge into ~$95 demand. Could we see some demand step in and a wedge break for a swing trade? I'll be looking for a long if we start seeing some support/demand in this area for a swing trade.
ES is only 30 points away from it's breakout point in June around the 4337 level. For nine months, ES failed to break this level, and when it finally did it never retested it. Now, we are close. Will this be a buying opportunity or will ES flush straight through? I personally will be looking to long this area.
From what I am seeing, it looks like we may attempt a two-legged correction on a larger time frame from a seven month long uptrend. If we continue lower, a measured move takes us right so the breakout point of 14400.
ES made a beautiful "failed breakdown" and squeezed the shorts for a huge run up to 4200. The purple main channel is now acting as resistance, along with 4200. If we can hold 4165 and base, I think the next 4200 test could see a breakout. Whether we hold or not, no one knows. But this is exciting! I will try longs around 4165.
We are still ranging in this orange downtrend channel but still within the larger purple channel. We broke out of the uptrend that price was following since March, so where we go from here is yet determined. If the purple channel is broken to the downside, I believe we'll see some selling pressure, if we hold, I believe we can work our way above 4200. Price has...
It is clear on one thing. ES is basing for either a large move up, or down. Which direction? Who knows. We just have to react when it does. You can see ES is still within this purple main channel but riding the orange trend down. We have already broken out of the main uptrend (white), which usually indicates price would like to retest the highs or make a new...
Flags are powerful! Here you see an overnight trade I took for ~20 points for a measured move. EDIT- Ah, it doesn't show executions on the chart. Sorry.
Will ES continue to break down the main channel support? If we do not hold 4150, I believe we will see a much needed cool off and a main channel retest around ~4120. I played a short overnight for 20 points for a measured move of yesterdays leg. I believe we will see a small bounce to retest the uptrend, then see continuation down to the main channel as we have...
I do believe it's time for a slight cool off for the ES. The swings are getting smaller and we are getting tighter. Currently in a fairly large channel (main channel) but currently still in an uptrend as well. With the swings getting smaller, we will either break to the upside for a push above 4200, or break down for a cool off period back to around 4130-4100. We...
Today ES held 4150 perfectly. Seems that we are currently in a bull flag. Will ES breakout and base above? Here are the levels I'm watching. Here's my PL for today. i.ibb.co
Here are some key levels I believe will play a big part in determining this weeks direction in futures.
I am playing on the fact this two legged measured move will play to around ~4250.
Price is basing and holding the 4100 level nicely and staying within this latest uptrend. We had a break of the larger uptrend (the red channel), so price typically wants to make a newer high (4240+). Price has also broken 4150 which was shown to be resistance, and is now holding. I'd like to see price continue to hold 4150. If it does, I believe we'll see a new...