Four hour candles with weekly candles super imposed as a reminder that price has tried and failed to breakout above last week's high, and yet this week is just a small consolidation following a large breakout. Brooks would possibly say that "bulls want a close above last week's high." Last week's high was 4391.75, so an important test level of this new long entry.
Interesting take you have there. Can't say I agree. But I approve of you're right to hold it and to disseminate it.
Using today as an example, I'd be looking for a possible measured move of the range from the Globex higher low to the high before the 50% pullback of the move oof that low. The high was 4386.50 and the low was 4356. That is a range of 30.50 points. Add 30.50 to the high 4386.50 and that gives a measured move target of 4417. That would take the ES four points above yesterday's high.