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I am a little worried about the test and fail at 2735 (ES) as that was the support we lost on the high on Tuesday and also its a level with confluence if we look back. This is all short term 30 minute chart. Longer tern trend for sure up so staying long.

Where is the momentum down on your chart?

Strong momentum in the pre market. Looking for a print above 2750... Still long from Monday morning open.

Please share examples of these blow off tops in a very liquid market like the ES or Forex. In my understanding is that it takes time to distribute shares / contracts which technically should lead to sideways action (double top, double bottom, HNS, INV HNS) or wedge formation. I understand a...

Inverse head shoulders forming on the hourly SPX cash chart, looking a little too textbook....

Long, will stop out below Thursdays low

Gonna be looking for a long entry once market opens. This looks like a decent sized 4 hour chart accumulation. Just need confirmation of price starting to rise.

If you are looking for 1,2,3 try zooming out as much as the plaform allows so that the individual candles mean nothing. Then look for the pattern as it developes over hours or days...not from one 5 minute bar to the next...

Have you read through the "why is the obvious not so obvious" thread in the Risk Management section? This may help with your trading hero worship... and its a cracking fun thread to waste a weekend on.

TraderGod, read: How i trade for a living by Gary smith. Took him close to 20 years of treading water until he hit his stride. Book is old but a good read and pretty short.

Go to Tradingview.com and pull up a chart of NQ1 Futures.

You can look up a chart on your own.... you can also enter once the second bottom is in before the breakout confirmation.

Yesterday on NQ / ES was a nice example of a failed 1- 2 -3 Pattern on the 30 minute timeframe. I like to think of it more of a re-test of a point of accumulation / distribution. I believe that it failed because there just was not enough momentum built in that 30 minute chart to offset the...

why?

not looking good in my opinion. Not getting involved.

I am sitting flat waiting to see what happens. Here, ready to deploy a line into Nasdaq and S&P if we can stay above 2740.

Interesting price action before market open. Looks like they defended the the 2700 Low.

Looking weak over night. I. Thinking next stop 2680.

Predicting the future is a fools game, better to react to what others are doing....

I'm out completely from all my long term Index positions. Not looking good.