ES Journal - 2023/2024

12:05 candle. In hindsight - maybe it will look like the perfect reversal candle. Right now, I'm reading this as pullback / consolidation above yesterday's low and this entire day so far have been a massive failure to breakout lower with multiple attempts.

Of course, it have not so far broke out to the upside either and NQ is really weighing down on us here, so it's not like it's clear as day to the upside.

Let's see now... :)

EDIT: FWIW - my statistical model is more bearish than bullish for this kind of structure, although it's a mixed bag. 4K is a pivotal level, so it remains to be seen if hungry dip buyers show up once again or if this sells. My crystal ball is fuzzy here...
 
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The market is in a tricky spot here from my perspective. I see weakness here, but still I struggle to short this around these levels as of now. Still leaning long, but it may easily be wrong for today.

With such a small range way below both the average and minimum range for the year we should see some expansion by the close either up or down.
 
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