Today we have extended ranges, The watch will be for a range bound day, and a secondary look at a long bo. However, this has an increased chance of failing with a reversal back into range.
ES 1146.5 1139 1133
NQ 2225.75 2213 2208
YM 10814 10751 10709
TF 658.5 655.4 653.4
6E 3501 3466 3450
ES 1146.5 1139 1133
NQ 2225.75 2213 2208
YM 10814 10751 10709
TF 658.5 655.4 653.4
6E 3501 3466 3450
CHECK: The ES range was extended, 13 points from top to bottom and we saw a long break out attempt early.
CHECK: Professionals ran the range hitting a short break out and finding the SBBO5 and nearly the 10. There was a PB that had strength, but failed inside the SB and SB5. We were looking for a long if the PA tested the SB10 area again.
[10:22] <CM> we are now looking for a reversal thinking initial selling paused at b10 ES
[10:38] <CM> ema still pos but at sb area for es critical pt to break and make a h&s (see your chart too) but mkt looks like another attempt on the sb10 where i will look for the long entry
CHECK: From late AM to mid PM we see range trading, with a long bias still in the hunt.
[11:51] <x> Thanks ... But how do you see 45-47 ?
[11:53] <CM> that completes the return to the 8:30-9 trading est I would think they would try the 7-7:30 est high in the us mkt and that is around 1150
[11:54] <CM> plus range to range for bot says 1133 to 1146.5
The market began to churn, but was long bias.
[13:39] <CM> long 36.5 sb (should be) out of the way of this churning
CHECK: We did get the long break out.
ALMOST A CHECK: There was a pause, but no return to the ranges. The PA continued for a LB5 and LB10.
CHECK: From the SB5/10 to the LB5/10- a range trading day.
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