My observation of the ES after hours points to a conclusion that price mainly oscillates between upper and lower trend lines, which have been established in the last couple of hours of the day's session. When one of the trend line levels is broken it results in a mini breakout from that level range. Any comments?
My auto-trendlines currently show a space of 1 point and narrowing every 5 minutes or so (1315.54/1314.75), as the distance between 2 trendlines narrows below 1 point, there should be a mini/breakout off these levels. EDIT: The top trendline just broken and looks like the price will have an upward direction formation.
=================== Buy1 sell 2; Yes, Noticed that 1313 & 1312.2 level again & ; thought on it, again . Interesting Trade Station charts [TRAD]charts.; which has been downloaded 13 times.
yes I think I would agree with that except after midnight. The market is actually tradeable for a bit more range eiher up or down after midnight and I notice that the indicators have better reactions after midnight.
Sell signal created at the end of the 8.30 bar on lower RSI peak. 1316.50. Today we are going to begin incorporating stops, but not price targets. Our first attempt at placing stops with the system will be 1 pt above the most recent high (1317.25) . This would place our stop at 1318.25. Still paper trades for now while working out stops.