See explanation below.
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Another idea that of mine is ES to remain range bound for next another day or 2. A strategy is buy at to bottom of rectangle and to reverse position at top of rectangle. Do this until it no working longer tight stop with this strategy always to best idea. This strategy can be very much tricky, but when works a lots of money is to made. Let me know if any one do this.
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Now I be in at 3843
- basic plan. If ES break above rectangle be long. If break below rectangle be short.
- you can see RSI make heads and shoulders. Watch where next RSI 4 hour close is. Above blue line (neckline) then long otherwise short.
- see wick exactly touch fast hull. This is moving resistance. Some say more touches more strong resistant. But I say otherwise. This is a debate that traders talk on.
- Russell is up big. Usually good for ES.
- expanding triangle ( blue trendlines). This show possible increase volatile. Increase volatile often but not always short.
- bottom line we don’t know. Point for short also points for long.
- keep simple. Watch rectangle and be short or long. Wait for confirmation.