Starting off with the ES, price had this major down-measured move in play when today started. Price has been bearish over
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^Above is the ES 500 tick. The initial uptrend from the OV session got a large break. The first major leg down finished soon after the market open, where it shot up with 2 clear legs higher. (Marked 2 attempts at new high) That is not a good MM to short directly on as there is more reason to think bullish at that point htan bearish as the uptrend still has yet to play out, and price was unable to reach the OVL after forming the OVH.
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Hi everybody I hope you've had a great trading day. Today was a very bearish day. Basically just looking for short on the way down. For both markets, price was
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Above is the NQ 250 tick, price broke the range from last Thursday, retested it and continued lower in the overnight session. Price formed a downtrend, which then broke and made 2 attempts at a new low, which led to a reversal/fade attempt, which had a strong failure, leading to a full on downtrend day. When price broke the OVL, (after the initial 2 breaks) and really took off lower, this would be a good spot for a F2EL for a short entry. Price was extremely bearish at this point, but it was so bearish it couldn't offer us a couple legs back to get in on the move.
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Hi everyone I hope you had a great trading day today. Had a sharp spike up on both markets during the overnight session. Both the ES and NQ has a
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Hi everyone I hope you've had a great trading day. Today all my focus was on the NQ 250 tick.
You can see the larger price action levels forming. Notice at the beginning with the downtrend. We got a very small 2 legged break, smaller than the one marked. We got a perfect MM reaction/reversal, but price was only forming a larger break between the bigger pic legs that were pushing up. That took us to the marked "2 legged break" on the chart. After a couple attempts down, price reversed, and ultimately made an even larger 2 legged break from the original downtrend. We can see that with the red arrows.
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