This is a very nice drawing of the channels. If you look at closely of the upper boundary (orange) of the bigger channel and the lower boundary of the smaller channel, you could see an ascending triangle is forming and about to cross. It could break it today. ER2 was traded 670-671 range a few minutes ago, if not a big selloff happens after the gap up, it has a chance.
these charts are pretty funky...i think i will get ensign myself soon. you seem to be happy with it, right?
What I would like to see now is building a base here @ 669 and slowly trend higher throughout the rest of the day...
The swing is getting smaller and smaller. Looks to me the consolidation is almost done. 668 is the bottom, 668 is also the bottom of the the trading range.
i thought it did fill the gap..anyway, ES nicely filled the gap..to confirm my bullish view, i'd like to see a slow and steady trend up taking its time..not too fast until it hits a HOD...then anything goes.
Well, I thought we closed below 668 yesterday and 667.2 is the gap to fill, maybe not. Now re-test the low of the day 668.6.
Big negative divergence at the open, which causes the fall. Now we have some positive divergence. I hope these divergences can help the upside move for the afternoon.
agree..AM rally couldn't be sustained...if we close here, it will be rather bearish short-term...if it goes close to HOD by 3pm, we may have some short covering Friday afternoon rally..