ES Pull Back Falling Wedge October Breakout Santa Claus Rally
Updated
ES is pulling back to get ready for October-December Santa Claus Rally
Currently in a falling wedge notated in green lines
Inside of a bigger Rising Wedge notated in dark black lines
Probably fill the gap before breaking out or not? I will see when the time comes and how price is behaving
I will probably take that short term shorting trade off the 4 Hour 200 at the top of the channel with a target at/near that gap level with not expecting it to go further. The overall trend is still bullish. Does the market have one last push higher before the ultimate dump back down to 3250?
Currently in a falling wedge notated in green lines
Inside of a bigger Rising Wedge notated in dark black lines
Probably fill the gap before breaking out or not? I will see when the time comes and how price is behaving
I will probably take that short term shorting trade off the 4 Hour 200 at the top of the channel with a target at/near that gap level with not expecting it to go further. The overall trend is still bullish. Does the market have one last push higher before the ultimate dump back down to 3250?
Note
Note
I don't think nobody will see that channel line at the very top all by itself and so the market will go higher to make a higher high/ equal high in the santa claus rally. Note
I will be selling at resistance and buying at support in this 8 year Sideways Range Market. This will be a decade of tough learning and I believe those who survive will be exceptionally skilled tradersNote
I believe we are experiencing another range like 1997-2013 with up and down movements between two extremes. We are now approaching the highs of the current move upNote
Note
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