A simple price action approach

[FreakofNature]

This thread keeps getting better and better.

FoN

 

[tomahawk]

IMHO ES is likely headiing to 51 area ... after that, we can see what happens.

Good thread by the way.

 

[tomahawk]

Possible scenario for delayed visit to 50-51 area ... (same chart as last one, widened out a few days).

 

[LEAPup]

One of the better threads on ET.

 

[bigsnack]

Quote from noaveragingdown:

if you look deep into price you will notice price lives and breathes through heads and shoulders as it's predominantly diagonal and not horizontal.

NAD

I have noticed this more recently than ever before. My eyes see the shoulder(s) as true support / resistance, and the head is the "test" to see if there is any orders or interest above or below. Good stuff!

 

[athlonmank8]

Quote from tomahawk:

IMHO ES is likely headiing to 51 area ... after that, we can see what happens.

Good thread by the way.

Nice chart! We're working our way down there at the moment. Definitely looking weak

 

[IronFist]

for the method I listed, you can define HH and HL, there's no ambiguity about it. I'll explain later. You don't need zig zag or any of that stuff.

 

[themadman]

Quote from IronFist:

for the method I listed, you can define HH and HL, there's no ambiguity about it. I'll explain later. You don't need zig zag or any of that stuff.

Not to be mean but could you please start your own thread and leave your method out of this thread ?

Anything moving average related is far and beyond inferior to some of the content being posted in this thread and all you'll do is degrade the quality of the discussion.

THE Madman

 

[tomahawk]

Quote from athlonmank8:

Nice chart! We're working our way down there at the moment. Definitely looking weak

Thanks. Yeah, some doubt crept into my mind right after I posted that 1st chart, which I was mistakenly zoomed in on (leftover setting from Friday). I then realized the DB with Friday's low coincides with the old TL from the tops of 6/14 and 6/17. Also 57 was an infamous ES R10.

But I still think we get to 50-51 within the next day or so, just not so certain about the route. We could easily retrace a good bit into Friday's range first (10, 15 handles, 50%?). I guess for the purpose of keeping relevant with the thread, the only thing really to watch is what happens "when" it hits that lower channel.

Good trading.

 

[bigsnack]

We still have supports flipping to resistances so far, but that DB with the higher low could lead to a bigger bounce.