Thanks for showing me, that I should at least consider using some EMAs. I always believed EMAs to be a noob myth that do seldomly work. Thank you.
Using MA slope makes sense. The actual level (which is a moving target so to speak) not so much at all. Imaginary that is can somehow make price reverse direction
We are all different and will all trade differently. It is up to each of us to discover what gives us a recognizable defined edge. Take anything you read with a healthy dose of skepticism (especially on ET). Always study and test any concept or tool before you try and use it.
It seems to me here that if the red line is the 200 SMA, it didn't hold as it broke hard on the last bar in the chart.
The 50% didn't hold as well. Of course you can have your own rules about how far to let it go against a position, or maybe there was even no entry yet, but I wouldn't exactly say the EMA and 50% levels held.
And here we are with 8 minutes to go in the rth session and where is the ES? Be-boppin around either side of the 4307 number. So at this 8 minutes to go mark I say the levels held. As a reminder, the chart being referenced is a DAILY chart.