2024.01.25 S-T scenario for ES

Jan 25

The possible short term development. I anticipate that there will be a move to the upside first and the displacement to the downside later. Though it is still not finished business with the historic high => HTF upside narrative is still in place

Jan 25

Note

Price made to the upside. One more high is anticipated => reversal down after.
1m TF is for the framing short setup. Just like in NQ. No divergence for now

Jan 25

Note

One more high on 1m TF is anticipated. Divergence with NQ. => reaction to the downside.

Jan 25

Note

Possible local high => ideal retracement for the possible short setup is on the chart

Jan 25

Note

Price is getting close to the first level of potential reaction to the upside

Jan 25

Note

Ideal retracement in place => acceleration down needed or up to the new high

Jan 25

Note

LHS can run on the sell stops. but the first downside target is reached => reaction to the upside at least.

Jan 25

Note

New low of the day is made. Possible reaction to the upside during PMS

Jan 25

Note

Divergence with NQ (no new low of the day) but after LHS => upside reaction is possible. In case of the bigger downside move => new low of the week is the next target

Jan 25

Trade closed: target reached