TODAY: ES & 6E

Posting the BOT pics in the AM is burdensome.  The current thought is to post the actual values.  Opinions are welcomed before we change the format.

Today, we follow the numbers again to identify key points.  For trades and alerts, join us on the Mirc Othernet  chat  #chartmaster.



TODAY:  ES AND 6E

click to enlarge

The BOTs were set this AM, but we see that a mid level was needed for both the ES and the 6E.

1. A short is indicated.  The EMA is holding price negative, there is a 5t failure should price hit the 30 minute high, and price is near the middle target.  It is suggesting a move away from the long BOT, and we generally see a move across the bot range.
2. Pushes higher (we get 3) that fail below the long bot.  Short pressure.
3. Bear close at the EMA and mid bot.  has a 5t failure to the pre-open high, and is a short.  Short at the short bot was valid.  The reversal of the bot is also a valid long.
4. We have a reversal, a HL, and expected third push for the long.
5. EMA PB in a bear run at the mid bot.  This is expected to develop a second leg down.
6. A double bottom s/r that breaks, considered a short continuation or a new entry.
7. Bull TL developing at mid day, with a long at the EMA and short bot reversal.
8. Trapping price action  between the mid bot and EMA.  In real time, suggest that we wait for a break out and enter the PB.  This was at 13.5 area of b57.
9. 1t (2t to be sure) fail to hit the +3 target near the #2 pushes, and hit the stop.  EMA lower bot support, price returned for a double high, to settle inside the BOT range.

6E

The 6E was in a narrow bear channel following the BOT set.

1. Bear double top TL  at the open, both failed channel breakouts.  Also the reversal of the BO for a b3 short.
2. The second short at the EMA and near the mid bot, and trend to the lower short bot, which fails.  We have run the entire range.  The short bot failure suggests we see higher price action.
3. The bullish TL support higher price too.
4. Long the EMA after the mid bot PB, and at the bull TL.
5. Continuation long or new entry at the long bot break.
6. and the failure short.  Exit at the consolidation at the end, or a stop approximately 50% between the  EMA  and price, trailing the current price.