So I'm FAR from the best trader out there, but this morning IMO was a solid downtrend. Been in place since 2/23. Broke down thru yesterday afternoon's support at EOD, then this morning gapped up but closed on the lows on decent sized candles... Went back to tap the 5083 area (entry short) now resistance twice this morning for shorts and had no threat to any stops (>5087) all day, on its way down to touch the 2/22 5070 area support as LOD today. My first exit was 7075 when we seemed to be consoldating at morning LOD, then 5070 for the remainder. Any critiques to my analysis welcome
it is waiting for tomorrow pce, flushing down likely. for the reference, it trades at the first three minutes opening range.
Sorry, I don't read those funny squiggly lines. Too much distraction. I'm gonna short again from 88. We're close.
Are we talking about a full reversal or a mere pullback within the current uptrend? I'm not convinced that we're ready for a 180 reversal just yet.
By my eye, from the daily chart, we’re a ways away from a full on reversal. I’d want to see a break below and retest forming resistance of 5050 for a start, and even then I’d want a break and resistance below the uptrend line I have in place from the 11/9/23 low before I would consider reversal territory.
+1 Belated +1 and thanks. I spent several days learning about and creating correct Back-adjusted (continuous) charts because of your ES ATH posts... Entertaining to most, money to others. It became another tool in MY toolbelt! Thanks.