Strong up!
Very simple my dear malaspina.
Emini S&P 500 expectations.
- Thread starter malaspina
- Start date
Very simple my dear malaspina.
You are right, sorry for the typo.
Looks like a triple-bottom, doesn't it. And what happens on those usually? An explosive move one way or the other.
Overnight, can you see how fast the ES came down this time ?. Look at the day chart, It only took 4 days to reach the bottom again with two full bear candles included. Call me crazy but I have a suspicion this bottom won´t hold, I know price action has the final word, but what do you think ?.
What I think is irrelevant to trading the ES, because I do not trade the ES. What I see there is just a chart pattern and have thoughts about what I have seen before in YM and NQ.
Considering that in general these patterns indicate a consolidation of sorts, I would think that there is a break out of the range either up or down over the long term.
My gut on the technical side says if we break triple bottom on the down, it will go down some more. At the same time we could range up to those sort-of triple tops and make a quad bottom.
In truth, you are asking the wrong person about what they think the market will do. Do not ask me, as I am not a seer. Nobody is. All we can do is analyze our charts and make an edumacated guess and prediction about where the markets are heading, based on past experience and TA analysis.
I can tell you this...These huge rapid point moves (both in size and speed) in 2018 are nothing I have ever seen before, but I only started watching this all about 5 years ago. I am sure that if you ask the more experienced folks here who have been through the maelstroms of the past couple of decades about this sort of price action, they can tell you stories that are more terrifying. Like OMM and bone. They are like old and stuff.
What I think is irrelevant to trading the ES, because I do not trade the ES. What I see there is just a chart pattern and have thoughts about what I have seen before in YM and NQ.
Considering that in general these patterns indicate a consolidation of sorts, I would think that there is a break out of the range either up or down over the long term.
My gut on the technical side says if we break triple bottom on the down, it will go down some more. At the same time we could range up to those sort-of triple tops and make a quad bottom.
In truth, you are asking the wrong person about what they think the market will do. Do not ask me, as I am not a seer. Nobody is. All we can do is analyze our charts and make an edumacated guess and prediction about where the markets are heading, based on past experience and TA analysis.
I can tell you this...These huge rapid point moves in 2018 are nothing I have ever seen before, but I only started watching this all about 5 years ago. I am sure that if you ask the more experienced folks here who have been through the maelstroms of the past couple of decades about this sort of price action, they can tell you stories that are more terrifying. Like OMM and bone. They are like old and stuff.
Thanks for your opinion. It is appreciated.