Retracement for next wave down in trend between 2714-2740 ES.
ES Journal - 2017/2018
- Thread starter Buy1Sell2
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Good job B1S2. Would love to be able to withstand days of pain like you. Don't have it in me anymore. Would rather get out of the way when mkt hits my predefined stops.
There is a consolidation zone of stops at 40-50 ..where 200 day MA is. Those stops will be taken out first, if we decide to cascade down.
As of right now, Bullys are in control & have the wheel, Bears would need to take out last Active Lo @ 2570 SP Cash chart .. 2530 ish on Front Month.. In order to take control to confirm a True Turn.... Fib Confluence Resistance sell zones up top are as follows.....
R1- 2735-40
R2- 2775-80
R3- 2815- 25
Anticipating these inflection points to offer significant profit zones for a potential retest of swing lo.
R1- 2735-40
R2- 2775-80
R3- 2815- 25
Anticipating these inflection points to offer significant profit zones for a potential retest of swing lo.
18 yr High Consumer Confidence should easily carry us up to these inflection points.. at least to 2735-40 window.... a little deductive reasoning would say to jump on for the lift north.
Wage inflation data will keep pressure on the mkt.
29.25 was swing hi.. just shy of our R1 @ 35 inflection point... Es is more efficient now than ever & that`s why I`m a big proponent of scaling into a position shotgun style.
I started scaling in at 2714. Still feel there will be some pain to the upside on a continued short squeeze.
Me too... money to be made on both sides with Vol.. Gotta be a Rod Carew switch hitter!
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