Badda Book Badda Boom.
ES Journal - 2019/2020
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Man your bulls are strong Buy1
Make them hit 2790/2800 so I can put a swing short on for a 5% pullback to 2642
Make them hit 2790/2800 so I can put a swing short on for a 5% pullback to 2642
You certainly know a bull when you see it !
safe to say in hindsight that the bear mkt or daily correction ended on Dec 24..
Call me crazy but I still think the lows will be retested, ditto for crude. Not necessarily all the way to 2320, but at least another clear push down on the monthly, maybe 2525 as a min target.
ES is in the .736 fib retrace area around 2781, with resistance/TL above from last fall. Pretty much the last line of defense for bears which is also where the best R:R trades are to be found. I'll definitely look to swing-short a reversal pattern around 2800 with targets likely to be 2525 and 2350.
I seem to hear this and read this many places. But we had a nine year bull market top just a few months ago. Does no one think that what we are seeing is a rally to test the highs? Much, much closer to 2940 than 2346 at the moment. Much closer.
I'm not a fib guy, but thought I was familiar with it. Don't think I ever heard of .736 as a fib ratio.
The only "level" I have found to be at all useful (other than actual prior highs and prior lows) to be aware of on any kind of consistent basis is the halfway back level in a swing. My "rule of thumb" is that if price retraces more than halfway back, then it is probably going all the way back.
Auckland this week---Be back next.
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