Pro traders aren't any better at "predicting" where the market will go than a hobby trader, and its not the job. The difference is all in execution: Finding lvls, protecting profits once available, stopping out & adjusting when wrong, and consistant loss size control. Focus there
Have a great weekend! Technical analysis 101: In Jan, #ES_F broke out its bear market trendline from 2022. This week, it back-tested @ 3950 & squeezed. If ES to set a low, that was the shot
Plan Next Week: RSI very stretched. Dip likely from 4060: 4025(key), 3995 are supports. Sets up the next leg to 4105, 4140. Map Below
Closing update #ES_F: Incredible follow through after yesterdays bottoming setup (failed breakdown). 4035 was target today, and cleared to the upside. Dip likely then 4060 is up next. Newsletter out shortly talking supports/targets for this broader leg https://t.co/zS20sba61S
Clean follow through continues in #ES_F after putting in a reversal setup yesterday to start the new leg up. My targets for today were 4022, then 4035-40, and we are coming into 4035 now
Decent res: Lock in gains. Ideally can cooloff there before 4060 next. 4022, 4k now supports
Clean technicals today: #ES_F put in a reversal setup yesterday (failed breakdown) to start a new leg up. 4022 was first target today, and just hit (4023 is high of day), now basing time.
Manage risk at each level. 4035 next up, stronger res & target #2. 3995-4k is now support.
After yesterdays reversal setup (losing the Feb lows then reclaiming) the run continues in #ES_F and we got to yesterdays 4007 target.
RSI getting stretched so manage risk. 4022, 4035 remain next up. 3995 now support, fail there its back into chop to 3980, 3966 (must hold)
Yesterday, #ES_F put in a reversal pattern losing Febs low, trapping, then recovering. My targets were 3975, then 4007 & got to 4k overnight
Plan today: 3980, 3966=supports. As long as we hold or base above 3980 ideally, break to 4022, 4035 next. 3966 fails, sell back to 3950
Closing update #ES_F: Perfect follow through and we hit todays 3975-80 target then cleared it. 3995, 4007 were next up, just hit 3995. 3975 now support. Newsletter out soon discussing the reversal setup put in this afternoon and what it means from here https://t.co/zS20sba61S
Excellent follow through and targets hit in #ES_F. 3963, 3975-80 were targets today and just clipped 3975. We remain above the key ~3950, 1+ week support, recovering it.
Some chop likely here. Longs want to see 3963 (3948-50 lowest) hold now, which sets up 3995, 4007 next up
After hours of sideways chop following the overnight bounce off 3925 support, we finally got a pop to a target hit in #ES_F. 3963, 3975-80 were targets from this morning and just hit 3963.
3975-80 next up. 3948-50 must hold now, or its back into the chop & we sell back to 3920
"Holiday" type chop action for #ES_F today. After bouncing off 3925 support precisely overnight, I posted 1 more reclaim attempt of 3950 likely and its been trying all day, including now
3963, 3975-80 next up. 3950-3920=chop and 3920 must fail to start next leg down to 3895
After losing 3948-55 major 1 week support, and hitting 3925 overnight sell target exact, #ES_F is starting off doing what it has often done during the day lately: Chop
1 more reclaim attempt of 3950 still likely as posted (targeting 3975-83). 3920 fail needed to see leg to 3895
In last week, #ES_F tested 3948-55 support *6 times*,5 yesterday. It lost overnight: This targeted 3925. We hit exact 3925 & bounced, now more chop
Plan today: 3936, 3920=supports. ES likely tries to reclaim 3950 1 more time, which targets back to 3973-83. 3920 fails, 3895 next
Overnight update: Major theme lately of overnight volatility then day time and #ES_F finally cracked critical 3948-55 support. I posted loss of today's low triggers down to 3920s and arriving now. 3920-25 overnight support, with 3895 below. Needs > 3950 to resume any upside
Closing update: Test #4 today of the critical 3948-50 held again as #ES_F builds a base at the most critical support in months. 3975-83, 4007 remain in play. Todays low must fail to see sell. Newsletter out shortly talking the setup from here/big risks https://t.co/zS20sba61S
Its now Test #4 of the 3948-55 major support (3 tests today alone, 1 test last week), as we continue the tactical chop
Very well tested. Same drill and #ES_F will want a bounce here within half hour *ideally* (keeping 3975-83, 4007 in play). Todays low fails we start leg to 3928
3948-55 was key support today (and for the last week) and #ES_F certainly agrees, testing it 3x in past 12 hours (two precise bounces off the zone overnight and at 10am, one quick failed breakdown just now).
Same drill: 3983, 4007 remain next up, fail of today's low sees 3928
Key support tested and bounced on cue in #ES_F. 3955-48 has been key support of the 1+ week range, and we just hit & rallied (2nd, first was overnight)
After multiple tests, it is vulnerable to failing if this bounce fails. 3983, 4007 remain next up. 3948 fails, we sell to 3928