ES1 is moving in a strong daily channel and it's near the top of that, as wave trader we think it's on the 4 wave that is corrective and may go lower to 0.50 0r 0.618 of the impulse wave. so we think must wait to complete the 4th wave and then enter the long position near the bottom of the channel and near 0.5 to 0.618 fibo support zone
ES1! SPX500USD 2021 Nov 15 Week
Short from 4674 was good, followed by spring from the demand line of the
uptrend channel.
Market rebound from demand line of channel back into the possibility to test 4712.
Weekly: Average volume down bar closing off high = weakness. Wait and see if
weakness will flow over to lower time frame.
Daily: Average volume up bar...
#ES1 looks like supporting on the channel... Expecting a deviation squize... Thats all you have to know on HTF... DXY wants to squize 1 more time on LTF...
Lets see how we close the market today...
ES1! / Emini / SPY500 is approaching liquidity reference points - and there's an unmitigated OB+ sitting right below it.
This "could" be where ES1! finds support for the next swing up.
Play this on a lower time frame like 4H/etc.
GLGT
ES1! has nearly completed a 200% off the March bottom, with the Nasdaq challenging the 300% level. ES1! has support at the 2 hour MBB and is forming a bull flag.
ES1! 6WK: Update from April 14, 2023 Publish:
0.786 Levels clear development of structure into EOY.
KL: 4741.25
Risk on sentiment as evidenced by confluence of sigma 1 and 0.5 fibonacci level (4155.25) now approached 0.236 fibonacci level (4500). This was a high area of interest as PA reverted to mean because it was where price acceptance has occurred (Oct 2020)...
ES1! 6WK: Update from April 14, 2023:
Long term target: 4634.50
Please refer to study posted on April 14, 2023 and updates as listed from June 16, 2023. Key level of 4500 breached, warranting new targets for continuation.
Bias: Neutral to risk on into EOY for Q3 and Q4
Price at time of publish: 4517.00
ES1! 6WK: Update from April 14, 2023 Publish:
+8% shift of structure upwards and price rediscovery from March 2022 levels. A period of inside candles preceding May 8,2023 reflected support at sigma 2.
Risk on sentiment as evidenced by confluence of sigma 1 and 0.5 fibonacci level (4155.25) is now approaching 0.236 fibonacci level (4500). This is a high area of...
ES1! SPX500USD 2023 JUNE 12 WEEK
Price broke 4303. If this becomes support,
next target level will likely be 4584.
Scenario Planning:
1) Long on support at 4303
2) If false break, short on rejection at recent high / lower
high.
Note:
Longer Term: 4150 need to hold as support in order for
long trend to remain intact.
Volume Analysis:
Weekly: Ave vol up bar...
ES1! SPX500USD 2023 JUNE 05 WEEK
Once price breaks out of 4303 and it becomes support,
market will likely test next level 4584.
Scenario Planning:
1) Continuation long: Long on retracement
Note:
Longer Term: 4150 need to hold as support in order for
long trend to remain intact.
Volume Analysis:
Daily/Weekly: Ave vol up bar close toward high = NTC...
ES1! 65m: Intraday levels, VPOC 4139.50, Inside bar on sessions for 1D-4D and could remain in range for acute horizons; Earnings and VOL levels in consideration; Weak breadth on daily internals// KLs: 4176, 4164, 4156.50, 4147, 4117.75, 4139.50, 4110.75, 4098.75// Price at time of publish: 4154.25// Bias: Neutral
ES1! Fibonacci Levels on 6wk horizon. Confluence observed with PA in sustained level between Key SMAS 20, 200. Confluence observed with 0.618 and 0.5 with areas of fair value. Reliability of measure supported using linear regression with pearsons r of 0.97554. A bear flag would be confirmed with breach of sigma 2 :3888.50 and KLs 3973.75, 3515.50 (and rediscovery...
ES1! SPX500USD 2023 FEB 20
Scenario1 rotation play yielded 120pts gain
for week of 13 Feb.
Scenario Planning:
1) Rotational play = trade at boundary of 4175-4061 zone
2) Short on test and reject of 4094-4048 zone
Volume Analysis:
Weekly: Ave vol down bar close off low = minor demand
Daily: Ave vol up bar close toward high = Minor demand
H4: Ave vol up bar...
ES1! SPX500USD 2023 FEB 06
Last week's Scenario1 short and breakout trade
both offers TP of 50pts each.
Market is back into supply zone (circled), 3 TFs
showing supply coming in. Temporary short
opportunity may arise if market moves up on lower
volume and narrow spread.
Scenario Planning:
1) Short if 4209-4175 is resisted
2) Long on support and acceptance at...
