Here's my Fridays 30mn chart, If no news over the weekend or Monday and the mood is the same, i'm projecting the ES will move up from the short term support, of (the 20ma and the 200ma on the 30mn). 08.75 is taken out we go after 2811.
Interesting, 11.30 am tweet from Fed Kaplan put a cap on the ES Friday or at the very least helped. Look at the 30mn chart above this posting and you can see that the reaction was right-in line with the tweet. Fed’s Kaplan: Intensification Of Trade Tariffs Would Downgrade Economic Growth Forecasts For 2018 & 2019 – RTRS Intervie. Will look to see what Asia does today? But the 20mn and the 200 appear to be support for now. Fridays close above 03.25 is good for positioning but upon further evaluation, it wouldn't surprise me if price dipped bellow 03 and maybe as far as 98 (fib support) This channel from 03 to 98 is good and narrow.
So far no go, 2808.75 still on. Earlier i was correct on the 30mn being overdone. Thinking the ES has loads of High Octane fuel left, but need to stay away from the desire to incorporate directional Bias. One needs to only focus on what one see's. What I do see is the ES has backed off from its high to the top part of the lower channel and that's in 2803 area. But when looking at the 30mn, I still see we have room enough to retest 2801/2800 area before we catch some bids. I cant say for sure if that will happen because we are in the evening session and It's hard to read because of its small volume.
So far so good, right now we are where we need to be, waiting to see where the 1mn will be to determine the first move for the directional layup.
We need to drift above the 200ma for any possible longs here, we are sloped and riding the 20ma. Looking for an upside flip.
L 99.25 REV 99.25 TOOK 4 ticks was buying along bottom base but it stalled and 20sma is not budging on slope exit runners at 2 pt